Commerce Secretary calls for greater collaboration between India, Latin American and Caribbean countries
Aug 04, 2023
New Delhi [India], August 4 : Sunil Barthwal, Secretary of the Department of Commerce in the Ministry of Commerce and Industry, underscored the significance of India-Latin American and Caribbean collaboration in achieving energy transition goals and called for fresh perspectives in renewable energy, and battery manufacturing.
On the last day of the 9th CII India-LAC Conclave, Barthwal highlighted the immense potential for expanding bilateral trade between India and Latin American & Caribbean (LAC) countries, according to a statement released by Commerce Ministry.
He also emphasized upon the need for innovative approaches to diversify trade exchanges, especially in the context of a re-globalized world and changing energy landscapes. He highlighted the role of the G20, particularly under India's presidency, in addressing the concerns of the Global South and deeper engagements with the LAC region during the G20 Presidency of Brazil in 2024.
"Proposing a collaborative framework, Shri Barthwal suggested a Joint Economic and Trade Cooperation model and emphasized the importance of unified efforts in addressing issues at the international forums," the statement read.
He reiterated the remarks of the Union Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles, Piyush Goyal that “Trust is the bedrock of cooperation and collaboration between Indian and the Latin American and the Caribbean countries”.
The closing ceremony of the '9th CII India-LAC Conclave' was graced by the Union Minister of State for External Affairs, Meenakshi Lekhi and Delcy Eloína Rodríguez Gómez, Executive Vice President and Minister of People’s Power for Economy, Finance & Foreign Trade of the Bolivarian Republic of Venezuela.
At the event, Lekhi said that India, Latin America and the Caribbean (LAC) countries need to speak in one voice globally in the true spirit of South-South Cooperation.
Stating that India has set sights on becoming the third largest economy by the year 2047 when the country completes 100 years of Independence, Lekhi said that when India does well, the world does well, and urged LAC countries to work closely with India by leveraging the complementarity that exists between the two regions.
Delcy Eloina Rodriguez Gomez, Executive Vice President and Minister of People’s Power for Economy, Finance and Foreign Trade of the Bolivarian Republic of Venezuela in her address said the two regions need to consider conducting trade in local currency.
