Bengaluru, March 06, 2019: The Federation of Karnataka Chambers of Commerce and Industry (FKCCI) oorganizedASEAN Chambers of Commerce & Industry Business Meet 2019, from 25th – 27th February at The Lalit Ashok, Bengaluru, India. The international Business Meet brought together the Exporters and Importers of ASEAN, delegates from India & Overseas, Top management of Leading Corporates and Industry, Bureaucrats, Policy Makers and Heads of PSUs and Members of National and State Industry Associations on a single platform. The meet aimed to promote Trade, Business and Investments for India as well as the participating countries and to create a high-level networking ground for people to explore new collaborations and showcase new products to stakeholders.
The Official Opening of the ASEAN Chamber of Commerce & Industry Business Meet was addressed by Honourable Datuk Seri Shamsul Iskandar bin Mohd. Akin, Deputy Minister of Primary Industries Malaysia.
Before his keynote address, the Hon. Deputy Minister expressed his feelings about the recent terrorist act in no uncertain terms, saying “On Feb. 14, a suicide bomber in Kashmir drove his explosives-filled vehicle into a bus carrying members of India’s paramilitaries, killing over 40 and injuring dozens more. Coming from Malaysia where Islam is the official religion in our constitution, we denounce terrorism in all its forms and manifestations and reiterate the need to combat these inhuman acts with a decisive and collective response without any double standards. Let us observe a minute of silence in honour of the victims of the terrorist attack”.
At the opening he briefly touched upon the history of trade between India and ASEAN and revisited the Free Trade Agreement in Goods (FTAG) which India signed with the Association of South East Asian Nations (ASEAN).
India and ASEAN share a long rooted historical and cultural unity, which has helped craft the landscape for economic and commercial relations between the entities. This further enhanced adoption of trade, cultural and social fundamentals that served the interests of people from the Asia-Pacific region thereby facilitating peace, stability and prosperity. Today, ASEAN and India are celebrating 27 years of dialogue, 17 years of the summit and 5 years of Strategic Partnership.
Honourable Datuk Seri Shamsul Iskandar bin Mohd. Akin, Deputy Minister of Primary Industries Malaysia said, “Today’s driver for a more productive ASEAN and Indian business expansion, development and growth lies in the adoption of social and economic partnerships through innovation, localisation and talent cultivation that can be channelled for growth through joint ventures in the various opportune sector.”
One of the largest commodities traded in the ASEAN region is palm oil and India is one of Malaysia’s most important export destinations. India’s oils and fats market are dynamic and continue to grow with population growth and increased affluence. India imports about 60% of its total consumption of oils and fats and ASEAN plays an important role in sufficing the country’s demand.
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