The Federation of Indian Chambers of Commerce and Industry (FICCI), the largest and oldest apex business organisation in India, has become a Founding Strategic Partner of the CWEIC, the apex organisation representing private sector businesses within the Commonwealth and is the only institution with a remit to promote intra-Commonwealth trade and investment.
The agreement was signed between Dr Jyotsna Suri, President, FICCI and Lord Jonathan Marland of Odstock, Chairman, Commonwealth Enterprise and Investment Council in London recently, in the presence of four FICCI Past Presidents.
The CWEIC was established in July 2014 with the support of member Governments and the Commonwealth Secretariat. It is a not-for-profit membership organisation with a mandate from Commonwealth Heads of Government to promote trade, investment and the role of the private sector across the 53 member countries.
Dr Jyotsna Suri said: “Given India’s role in leading the Commonwealth and the synergies between the respective mandates of the two organisations, we are keen to develop a strong working relationship to ensure our partnership can service the Indian business community in a meaningful way.”
FICCI has done pioneering work in promoting India’s engagement with Africa. The activities include bilateral, regional, sectoral and pan-African initiatives. FICCI provides a powerful business platform for Indian Industry to forge links with their African counterparts.
Lord Marland said: “Central to CWEIC’s work is the understanding that businesses require a set of values under which trade and investment can take place. We believe that CWEIC, as the Commonwealth’s apex body, and FICCI, as India’s apex body, are perfectly placed to build this understanding between India and the rest of the Commonwealth, particularly in Africa.”
The major platform hosted by the CWEIC is the Commonwealth Business Forum held alongside the biennial Commonwealth Heads of Government Meeting, which is this year taking place in Malta from 24-26 November.
With the support of FICCI, CWEIC plans to establish a programme of activity focused on supporting India’s trade and investment relationships within the Commonwealth.