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Vimala Vasan

Abu Dhabi, Feb. 7

THE GCC-India Industrial Conference, to be held in Mumbai on February 17 and 18, will launch the first formal economic dialogue between the countries of GCC and India and provide a useful foundation for economic cooperation between India and the oil-rich Gulf States.

The conference is being held as a co-operative effort by the Gulf Cooperation Council (GCC), Government of India - Ministry of External Affairs, and the CII as the coordinating organisation, Mr A.C. Patankar, Principal Advisor, CII, told Business Line.

The UAE Ministerial delegation to the conference is expected to be led by Dr Mohammed Khalfan Bin Kharbash, Minister of Finance and Industry. The conference is a result of the efforts made by the CII over a period of four years as the proposal for holding the conference was made to Gulf Cooperation Council in Riyadh in 2000, Mr Patankar said.

The proposal was then placed before the Ministerial Committee of the GCC and was accepted. The GCC then proposed in 2002 to the Ministry of External Affairs, that the conference be held. The Ministry of External Affairs accepted the proposal and it was decided that the event be held in Mumbai during February 2004.

The decision was taken by a joint working group comprising the GCC Secretariat, the Ministry of External Affairs, and the CII as the coordinating organisation for the event.

India is now a dialogue partner of the GCC and the first political dialogue was held at New York last September. The conference would launch the first formal economic dialogue between the countries of GCC and India.

It would, therefore, be a historic event, Mr Patankar pointed out.

The programme for the conference has been jointly decided by the joint working group, which met in Riyadh and in Mumbai for the purpose.

The topics for discussion at the conference subjects have been selected with an objective to discuss the status of the present economic and industrial cooperation between the GCC countries and India and to draw up a road-map for the future.

The conference would have plenary sessions on trade, investments, industrial cooperation, information technology and the SME development, at which both the Indian and GCC perspectives will be presented.

The possibility of sharing Indian experience in the above areas will be explored and a permanent mechanism is likely to be created to facilitate continuous exchange of views and dialogue.

The GCC perspective on the above noted subjects is likely to be presented by the Chambers of Commerce and Industry in the GCC countries.

The Secretary to the Government of India — Information Technology, is expected to be the Chairman for this session, Mr Patankar said.

The conference is expected to be attended by 100 to150 representatives from the GCC states, which would include Ministerial delegations from the six-member countries, delegations from the Chambers of Commerce and Industry, agencies dealing with trade, commerce and Industry, and the SME development, and individual businessmen.

The visiting businessmen from the GCC will get an opportunity to meet the representatives of Indian industry as over 150 Indian companies are expected to participate in the event.

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