India seeks alliance with Cambodia, Myanmar

Himalayan News Service

New Delhi, May 16:

A high-powered delegation from India will attend the Asia Business Forum meeting in Cambodia to explore possible joint ventures and collaboration in the Asia Pacific region.

The 13-member delegation — led by by K K Modi, president of the Confederation of Asia-Pacific Chambers of Commerce and Industry (CACCI) and a past president of the Federation of Indian Chambers of Commerce and Industry (FICCI) — would also visit Myanmar to explore trade opportunities. CACCI is a regional organisation of apex chambers of commerce and industry and business associations from 22 countries of the Asia Pacific region; Australia, Bangladesh, Brunei, Cambodia, Hong Kong (China), India, Indonesia, Japan, South Korea, Malaysia, Mongolia, New Zealand, Nepal, Pakistan, Papua New Guinea, the Philippines, Russia, Singapore, Sri Lanka, Taiwan, Thailand and Vietnam.

Set up in 1996, FICCI is the nodal point for CACCI activities in India. During the visit to Cambodia from May 18 to May 19, to attend the 68th CACCI council meeting and the Asia Business Forum, the delegation would “explore possibilities of joint ventures and collaborations within the Asia Pacific region,” leading business lobby FICCI said today.

The business forum is likely to focus on critical issues like creating a favourable environment for investment and new strategies for improving trade among others. The chamber sees a good market in Cambodia for Indian products, particularly two-wheelers, water pumps, generators, bicycles and agricultural equipments besides pharmaceutical and fine chemicals, cotton yarn fabrics, gems and jewellery. The Myanmar visit from May 21 to May 22 would include a meeting with the ministers and officers of the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) to enhance cooperation. Drugs, pharmaceuticals and fine chemicals, primary and semi-finished iron and steel, machinery and instruments, plastic and linoleum products, organic chemicals, vegetable oil, wood and wood products, fruits and nuts are among the items in which the chamber sees scope for improved trade.