Guyanese delegation at first India-Latin America conclave

Kaieteur News
February 13, 2007

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A 3-member delegation from Guyana led by the Honourable Minister of Tourism, Industry & Commerce, Mr. Manniram Prashad, and consisting of Mr. Dhanpaul Dhanraj of GOINVEST and Mr. Mohabir Singh, CEO of Guyana Furniture Manufacturing Limited, is currently participating in the First India-Latin America Conclave: Project Partnerships 2007 in New Delhi .

The forum which begins today and concludes Thursday has been organised by the Confederation of Indian Industry (CII).

It coincides with the International Engineering and Technology Fair 2007, one of the biggest Trade Fairs in Asia . The CII has successfully organised India-Africa Conclaves in the last two years.

The aim of the Conclave is to bring together Latin American and Caribbean (LAC) trade and industry ministers, businessmen, chambers of commerce and trade and industry organisations for an interaction with their Indian counterparts. Topics on the agenda include business opportunities in Pharma and biotech, transportation, ICT, Agri business, energy, media and entertainment, tourism and hospitality and healthcare and look at opportunities in project partnerships.

The ‘FOCUS LATIN AMERICA AND CARIBBEAN' programme of the Ministry of Commerce, India, which started in 1997, initiated the process of serious political and business engagements between India and LAC region. Since then a number of MOUs have been signed between India and the LAC countries for mutual cooperation in the areas of Science and Technology, Agriculture, Energy, Health Care, Pharma and Biotech, Education, Culture and Tourism. India has also established institutional dialogue and cooperation with Mercosur, Andean Community, SICA and CARICOM.

India 's exports to LAC have grown from US$124 million in 1991 to more than US$2087 million in 2004-05.

Similarly, India 's imports have grown from US$ 349 million in 1991 to more than US$2005 million in 2004-05.

A number of major Indian companies have established business in LAC while many more are exploring opportunities in the region.

Minister Prashad, in his capacity as the Special Guest, would address the Inaugural and Valedictory Sessions on the initiatives which can be taken by the business leaders in bringing India and LAC region close to each other. The other officials accompanying the Minister would look into the possibility of attracting Indian investments in various sectors.