The Executive Director of COMESA/LLPI participated in the "The BREXIT: Prospects for India-UK FTA " meeting held on November 8, 2016 in New Delhi India.
ED of LLPI was invited as one of the main speakers drawn from global audience relating to developmental issues and looking for opportunities to work and trade with the UK.
During the same Meeting the ED of LLPI met with Ms Rita Teaotia, Secretary of Department of Commerce of the Government of India.
Commonwealth Secretariat in its project on “India’s Global Value Chains: Linking LDCs” has identified the export opportunities of India in 50 markets including USA, EU, UK, RCEP countries, Kenya, Nigeria, Tanzania, Ghana and South Africa. A market access of around $22 billion has been estimated that India can get by exporting identified 35 lead products where India has the potential of forming its own global value chains (GVCs). 20 LDCs and 3 South Asian countries have been identified which can export intermediate products and inputs to these GVCs.
To actualize the existing potential trade and investments and link the Commonwealth countries, which share the same language and similar legal institutions, India-Commonwealth SME Association was launched by the Secretariat in June 2016. For developing and least developed countries in Commonwealth SMEs represent an opportunity of wider economic development and poverty alleviation. Linking these SMEs to each other as well as to the SMEs in the developed members of the Commonwealth can provide huge opportunities to export and invest for all member states.
The main objective of the Association is to provide a sustainable platform for exporters and importers to regularly meet, build awareness of existing global standards as well as to encourage regional and extra regional investments in areas where the countries have competitiveness but lacks capacity. The association will be beneficial for both India as well as the Commonwealth nations more particularly the LDCs, as it will enable Indian firms to source their inputs more competitively while it will help LDCs to improve their supply capacities as well as diversify their export baskets. In other words, the association will help in enhancing and diversifying the exports of Commonwealth countries. This is first of its kind Association where India will take a lead and connect the Commonwealth countries, a platform which can provide huge opportunities for all member countries but is yet to be explored systematically in a sustained manner.
Leather and Leather Products is one of the eight Chapters identified in the Global Value Chain and COMESA/LLPI as a regional body working on leather and leather products development will have immense role in the Association.
The ED is also the Advisory Board Member of the India-Commonwealth SME Association.
The important issues of Indo-Africa continued relationship and pursuance of developmental goals were briefly discussed. Accompanying the ED of LLPI were Dr. Banga of ComSec and Mr. Yassin Awale, the Leather Sector Advisor to the Cabinet Secretary -Ministry of Trade, Kenya.
