Trade initiatives to develop strong India-CLMV vertical within the ASEAN market at the 4th India – CLMV Business Conclave

nirmala-sitaraman-at-clmvCommerce and Industry Minister Smt. Nirmala Sitharaman has said that trade with the CLMV countries grew from USD 1.5 bn to more than USD 10 bn in the last 10 years and expressed hope that India will be able to partner in more trade initiatives with these countries to develop a strong India-CLMV vertical within the ASEAN market. In her inaugural address at the the 4th India – CLMV (Cambodia, Lao PDR, Myanmar and Vietnam).


Highlights

  • There are clear verticals for India to facilitate trade with these countries like, organic agriculture produce from Myanmar, value added products from  coffee& pepper produce of Vietnam, two & three wheeler exports to Lao PDR etc
  • These countries can take advantage of the tremendous scope in India on skill resources across various sectors
  • India’s abilities in Agriculture, fisheries, aquaculture, skilling, health sector, solar and wind energy where India can provide a lead to the region.
  • Cambodia, Lao PDR, Myanmar and Vietnam collectively, is the third largest economy in ASEAN, followed by Indonesia and Thailand.
  • Due to close proximity, India is looking to boost trade and investment with the CLMV region as part of the ‘Act East’ policy announced by the Prime Minister during the 12thIndia – ASEANSummit in 2013.
  • The CLMV conclave is an annual feature which provides an opportunity for Indian business leaders to interact with government and business stakeholdersrepresenting the four countries.
  • The conclave facilitates to create and provide a platform for the decision makers from CLMV countries to interact with a range of Indian business companies involved in trading, manufacturing, processing, engineering, consultancy, construction etc.
  • Transportation and connectivity in the region were highlighted as the most important aspects for trade.

About CLMV

Cambodia, Lao PDR, Myanmar and Vietnam collectively, is the third largest economy in ASEAN, followed by Indonesia and Thailand.  Due to close proximity, India is looking to boost trade and investment with the CLMV region as part of the ‘Act East’ policy announced by the Prime Minister during the 12th India – ASEAN Summit in 2013.

CLMV conclave

The CLMV conclave is an annual feature which provides an opportunity for Indian business leaders to interact with government and business stakeholders representing the four countries. The conclave facilitates to create and provide a platform for the decision makers from CLMV countries to interact with a range of Indian business companies involved in trading, manufacturing, processing, engineering, consultancy, construction etc.

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