University of Commonwealth Caribbean and Latin American Caribbean Trade Council Forge Strategic Trade MOU at India Commonwealth Trade Conference

New Delhi [India], August 23: Indian Economic Trade Organization recently organized the India Commonwealth Trade Conference focusing on youth empowerment. During the prestigious event heal on DATE, an MOU was also signed between the University of Commonwealth Caribbean and the Latin American Caribbean Trade Council to accelerate the trade relationships between the Commonwealth countries. The MOU was signed in presence of the newly inducted Youth Ambassador and Trade Commissioner for Telangana and AP Divya Sree Muppichetty, High Commissioner of Jamaica His Excellency Jason Hall, High Commissioner of Gabon Josephine Ntyam, High Commissioner of Seychelles Harisoa Lalatiana Accouche, Sanjay Soi and the President of the Indian Economic Trade Organization Dr Asif Iqbal. The conference also witnessed representation from The Gambia, Australia, Malaysia, Papua New Guinea and various other stakeholders.

The event which was also attended by the business community in the national capital at the FIEO, Niryat Bhavan. The Youth Ambassador Divya Sree Muppichetty greeted the delegation of the High Commissioners of Jamaica, Gabon, Seychelles and pledged the commitment of support between the commonwealth nations for a robust partnership.  There is a huge interest in India for Commonwealth countries, with great scope for mulitlateral trading opportunities in MSME, Pharma, Education, Agriculture, and Manufacturing sector. This collaboration will also be useful for identifying business partners, collaborations, alliances, setting up academic partnerships, and provide services with other related business activities as well as to take up issues to parties in the Commonwealth nations. India is the largest member state of the Commonwealth, with nearly 60% of the total population of the association. It is the fourth largest contributor to the Commonwealth budgets and programs.

The India Commonwealth Trade Council will put efforts to take full advantage of Economic Cooperation Agreement between the various countries of the commonwealth and organize various activities to educate and create a conducive business atmosphere amongst the Indian SME Investor Sector for better business growth and investment promotion.

“As a Youth Ambassador of the India Commonwealth trade council, my goal is to build multilateral relations reach new heights between India and the commonwealth countries and our forthcoming delegation in 2024 to Samoa will be on to deepen and diversify the relationship by identifying  new synergetic areas for cooperation and collaboration, especially after the establishment of new trade mechanisms between our countries for trade and commerce” said Divya Sree Muppichetty who is looking to connect the companies for business in Telangana and AP state. Indian delegation to the Commonwealth meeting in 2024 will explore opportunities in areas of education, agriculture, farming, poultry industry, IT sector, start up collaborations and identify other opportunities for building up a robust infrastructure needs of the commonwealth countries.

India’s contributions to the Commonwealth’s objectives have been particularly notable in two areas: promoting trade and development cooperation among members (including support for small island, developing and least-developed countries). India has been involved in every major part of the Commonwealth network of institutions, and it is one of its top sources of funds, experts, and training. It also accounts for a large share of trade among the member states. In the 2015–2016 fiscal year, India was the fourth-largest contributor to the Commonwealth’s budget and the third-largest funder of its joint office at the United Nations in New York.1 In 2009, India doubled its contribution of approximately $2 million to the Commonwealth Media Development Fund and an annual contribution of $80,000 to the Commonwealth Small States Office at the UN.

During the ceremony, the High Commissioners of the Commonwealth countries presented the Youth Ambassador and Trade Commissioner her appointment certificate and wished her great success, the office of the Youth Ambassador is working on releasing the Annual Commonwealth coffee table book in November 2023 at the Annual Diplomatic nite to be held in New Delhi. The coffee table edition will have diplomats of all commonwealth countries with their foreward and message by the Secretary General of the Commonwealth secretariat.

The contemporary Commonwealth comprises some eighty official and nonofficial bodies engaged in promoting multipronged partnerships among members of governments, businesses, and civil society. It facilitates consultations in a cordial and informal milieu across a wide range of concerns. These include international peace and security; democracy, law, and good governance; the environment and sustainable development; debt management and multilateral trade; education and youth affairs; gender equality, human rights, and healthcare services; information and communications technology; and small-states issues.

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