The Hindu Business Line : TN Chamber signs pacts with trade bodies of Sub-Saharan region, Dubai

THE Tamil Nadu Chamber of Commerce and Industry (TNCC&I) has signed a number of memoranda of understanding with trade and industry chambers in the Sub-Saharan African countries and Dubai for an increased exchange of relations.

A twenty-two member trade delegation of TNCC&I, led by its President, Mr S. Rethinavelu, visited Mauritius and South Africa and Dubai between January 16 and 31 to promote bilateral trade and to explore the possibilities for joint venture projects.

It signed MoUs with the Mauritius Chamber of Commerce and Industry in Mauritius, the Mpumalanga Investment Initiative Mission in South Africa and the Dubai Chamber of Commerce in Dubai. In South Africa, the delegation visited Cape Town, Pretoria, Johannesburg, Durban and Mplumalanga. Earlier, trade delegations from TNCC&I had visited Sri Lanka and Maldives in 1999 and China, Hon Kong and Thailand in 2001.

According to Mr S. Rethinavelu, the background to the visit was the announcement by the Union Government's Focus Africa programme that drew attention to 7 African countries initially and extension of the programme to Sub-Saharan Countries and 6 North African Countries in the list, later in April 2003.

Mr Rethinavelu said Mauritius offered good potential and opportunities for foreign investments and could be advantageously used as a launching pad for exporting goods to African countries. Raw materials for garments and textiles are in good demand there.

An eagerness for joint ventures in textiles, information technology and marine products was evident. However, lack of direct shipping between Chennai and Mauritius was felt to be an obstacle in the promotion more trade relations. The Mauritius Government offered several concessions and incentives for export of products `made in Mauritius'. Logistics advantages could be gained in the case of manufactured goods if brought to the warehouses at Mauritius Free Port Authority and dispatch them to SADC countries consisting of 7 nations and COMESA countries consisting of 12 nations with Mauritius as a transport base, he added.

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