FICCI & TOBB sign pact to set up In­dia-Turkey Work­ing Com­mit­tee

'In­vest­ment Fo­rums' to be or­ga­nized

FICCI Business Digest - - Special Features -

In a bid to give a fil­lip to B2B ties be­tween In­dia and Turkey, FICCI and Union of Cham­bers and Com­mod­ity Ex­changes of Turkey (TOBB) signed a Co­op­er­a­tion Agree­ment for es­tab­lish­ing In­dia-Turkey Work­ing Com­mit­tee to iden­tify ob­sta­cles in trade and eco­nomic co­op­er­a­tion. The two or­gan­i­sa­tions will also co-host and or­gan­ise 'In­vest­ment Fo­rums' to pro­mote in­vest­ments op­por­tu­ni­ties both in In­dia and Turkey.

The Co­op­er­a­tion Agree­ment was for­malised at the B20 Con­sul­ta­tive Meet­ing, or­gan­ised by FICCI in New Delhi on April 6, 2015, with Dr. Ri­fat His­ar­cık­lıoğlu, Pres­i­dent, Union of Cham­bers and Com­mod­ity Ex­changes of Turkey (TOBB) and Chair – B20. The Agree­ment was signed by Dr. Jy­ot­sna Suri, Pres­i­dent, FICCI and Dr. His­ar­cık­lıoğlu in the pres­ence of em­i­nent busi­ness lead­ers rep­re­sent­ing In­dia and Turkey.

The Agree­ment aims to pro­mote busi­ness be­tween the two coun­tries; con­trib­ute to in­dus­trial and tech­no­log­i­cal col­lab­o­ra­tion be­tween their en­ter­prises and eco­nomic in­sti­tu­tions; co­or­di­nate and un­der­take joint ef­forts to col­lect, com­bine, an­a­lyse, eval­u­ate and dif­fuse in­for­ma­tion in re­la­tion to trade, in­dus­trial and tech­no­log­i­cal co­op­er­a­tion and in­vest­ments for the mu­tual ben­e­fit of the two coun­tries; and co­op­er­ate in part­ner­ing lo­cal cham­bers from In­dia and Turkey to strengthen mu­tual knowl­edge and un­der­stand­ing be­tween lo­cal busi­nesses as well as ex­change of best prac­tices in pro­vid­ing ser­vices to their mem­bers.

The 'In­vest­ment Fo­rums' will con­sist of a se­ries of ac­tiv­i­ties in New Delhi and Is­tan­bul or in the other ci­ties deemed ap­pro­pri­ate by the par­ties, and in­clude round­table dis­cus­sions with CEOs, and fo­rums to pro­mote the com­mer­cial as­pects of the In­di­aTurk­ish eco­nomic re­la­tion­ships.

Prior to the sign­ing and ex­change of doc­u­ments, Dr. His­ar­cık­lıoğlu high­lighted the im­por­tance of closer co­op­er­a­tion and need for col­lab­o­ra­tion be­tween In­dia and Turkey to up trade and in­vest­ment num­bers. He added that the cur­rent trade fig­ures were only a drop in the ocean and at­trib­uted it to lack of in­ter­est and knowl­edge amongst industry lead­ers on both sides about the op­por­tu­ni­ties that were ready to be ex­plored.

He stated that Turkey could open mar­kets of North Africa, Mid­dle East and Eura­sia to In­dia which would sup­ple­ment In­dia's quest for widen new mar­kets. Dr. His­ar­cık­lıoğlu added that In­dian Prime Min­is­ter Naren­dra Modi's re­form agenda was in line with Turk­ish re­forms and this would fa­cil­i­tate in deep­en­ing eco­nomic co­op­er­a­tion.

Speak­ing on B20, Dr. His­ar­cık­lıoğlu said that G20 was im­por­tant for the fu­ture of glob­al­i­sa­tion and B20 pro­vides a chan­nel for busi­ness to sup­port the G20 agenda, and had an im­por­tant role to play in help­ing the G20 de­liver mean­ing­ful out­comes. Since 2010, the B20 has formed a num­ber of work­ing sub­groups or task­forces, chaired by prom­i­nent busi­ness lead­ers, which ex­am­ine par­tic­u­lar top­ics.

Dr. His­ar­cık­lıoğlu in­vited the FICCI Pres­i­dent to visit Turkey with a del­e­ga­tion to deepen trade and in­vest­ment re­la­tion­ship. He also in­formed the mem­bers present at the meet­ing about Turkey's Women Coun­cil which was ac­tively pro­mot­ing women en­trepreneurs in the coun­try.

On the oc­ca­sion, FICCI Pres­i­dent Dr. Jy­ot­sna Suri stated that tourism held a lot of po­ten­tial for the two na­tions as Turkey was one of the most favoured des­ti­na­tions for In­dian tourists. How­ever, the flow of Turk­ish tourists to In­dia was small ow­ing to lack of knowl­edge and in­for­ma­tion about this coun­try. Hence, ef­forts should be made to pro­mote In­dia as a tourist des­ti­na­tion for Turk­ish trav­el­ers.

Re­spond­ing to Dr. His­ar­cık­lıoğlu in­vi­ta­tion to visit Turkey and work with Turkey's Women Coun­cil, Dr. Suri said that she would be happy to lead a del­e­ga­tion to Turkey soon to deepen eco­nomic en­gage­ments be­tween FICCI and TOBB and looked for­ward to work with Turkey's Women Coun­cil.

Dr. Ri­fat His­ar­cık­lıoğlu, Pres­i­dent, Union of Cham­bers and Com­mod­ity Ex­changes of Turkey and Chair – B20, ex­chang­ing MoU doc­u­ments with Dr. Jy­ot­sna Suri, Pres­i­dent, FICCI.

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