The Asean India Business Council(AIBC) today held a series of meeting with Union Minister Suresh Prabhu at Singapore where the industry capatains of each Asean countries took part with a special focus for the development of North East India.
The AIBC also submitted a report to Mr Prabahu enslisting series of suggestion for further improvement of trade relations between India and Asean Countries.
Notably the Laos Chapter was led by Assam’s son Habib Mohammaed Chaudhury, who is one of the top business leaders of Laos and his HSMM group has wide interest in agriculture, fragnance and information technology. Because of his intervention, the AIBC and the Union Minister took special focus for Assam and the North Eastern states.
This is noteworthy that HSMM Group of Companies is the 2nd largest Indian Foreign Direct Investment group of companies based in Lao P.D.R established in year 1998. The conglomerate has investments in agarwood oil extraction facilities, agarwood plantations, mining, Information Technology, perfume and fragrances and agarwood trading.
The AIBC has a vital role to play in expanding the volume of trade and investment exponentially, in view of the potentials. To reach the volume of trade, as targeted by the leaders or US100 billion by 2020, the AIBC and the governments in the region need to identify concrete steps to be taken.
Among the measures is to remove the obstacles that are impediments to the two-way growth in trade and investment.
Between 2017 and 2018, the AIBC implemented, recommendations submitted to the Ministers at the last AEM-India Consultations in August 2017. The activities implemented in India were con- ducted by FICCI and those in ASEAN by the respective AIBC chapters in the individual ASEAN countries.
The AIBC Malaysian Chapter will be organising the ASEAN – India Business Summit, the ASEAN-India Achievement and Excellence Awards and Gala Dinner on 27th November 2018 in Kuala Lumpur.
This is the 2nd year that AIBC Malaysian Chapter is organizing the event. Sushma Swaraj, Minister of External Affairs is expected to grace the occasion.
The theme of this Year’s Business Summit is “Towards Building Strategic Partnership be- tween ASEAN and India in the Era of 4th Industrial Revolution and Digital Economy”.
It would emphasise on strengthening ASEAN’s economic ties with North Eastern Indian States of Assam, Arunachal Pradesh, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim and Tripura. Prominent speakers from ASEAN and India as well as other countries in East Asia will be invited to speak at the Business Forum.
“We held a closed door meeting with Suresh Prabhu, Minister of Industry & Commerce and Civil Aviation along with Mr. Rashesh Shah, President of FICCI, Co-Chair AIBC and Dato Ramesh Kodammal, Co – Chair AIBC. Along with the chapter chairs of respective nations of AIBC” said Mr Chaudhury , Chairman of the Lao Chapter of the AIBC.
The meeting was held at the side of the 15th AEM-India consultations where the Economic Minister of all Asean countries meet annually to explore the bilateral trade promotion and the AIBC also have separate sessions. It has taken place at Shangrila Hotel, Singapore.