Irish Chamber Of Commerce Signs Historic Agreement In India

by Lorys Charalambous, Tax-News.com, Cyprus

20 January 2006

Against the backdrop of a major ministerial visit to India designed to foster bilateral trade links, the President of the Chambers of Commerce of Ireland Robin O’Sullivan yesterday signed the first ever co-operation agreement between the Irish and Indian chamber movements in New Delhi, India.

The agreement between CCI and the Federation of Indian Chambers of Commerce and Industry (FICCI) was also signed by Mr Saroj Kumar Poddar, President of FICCI in the presence of Ireland's Prime Minister, Mr Bertie Ahern.

Under the agreement, CCI and FICCI will commit to providing mutual support and assistance in promoting trade and investment between Ireland and India through information consultation, legal assistance and exhibitions and other areas of co-operation.

“India is one of the world’s top 10 largest economies, and the third biggest in Asia," observed Mr O’Sullivan.

"Not only does our common colonial history mean it is an easier market in which to do business but the combination of its growth, population and human capital makes it an exciting trading prospect for Irish businesses," he added.

Saroj Kumar Poddar, President of FICCI, which currently represents 250,000 companies employing 20 million people, noted that: “the establishment of a Joint Business Council between the two chambers will certainly serve as a platform for enhancing economic linkages."

Mr Poddar added that potential areas of cooperation could include information technology, education, biotechnology and pharmaceuticals.

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