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A high level Seychelles delegation led by Finance, Trade and Investment minister Pierre Laporte attended the first ever Indian Ocean global forum held recently in New Delhi, India.
The other members of the Seychelles delegation were the high commissioner for India Waven William, first Secretary Jean Claude Adrienne, and director general for Policy, Strategy and Investment, Rupert Simeon.
In his key note address Minister Laporte commended the Commonwealth Business Council, the Confederation of Indian Industry and the Ministry of Commerce and Industry of India for organising such forum. The theme of the forum was ‘Enhancing Partnerships for Trade, Infrastructure and Resource Development’.
Minister Laporte noted that for business to flourish it is important that there should be favourable economic climate that support investment.
He urged governments in the Indian Ocean region to look at rational solutions rather than solely focusing on trade and investment issues.
He added there exists potential for countries to synergise their competitive advantages.
In order to better from these initiatives, the forum agreed that member countries of the Indian Ocean Rim should simplify customs procedures, facilitate the movement of people and improve connectivity though ports.
The Indian Ocean is very important for maritime traffic; it is to be noted that last year 100,000 ships used the ocean and it accounts for two-thirds of global oil maritime traffic and hosts a vast amount of internet traffic.
Given the importance of this region, Minister Laporte thanked the government of India for its support in the fight against piracy, noting we need to ensure that shipping line continues to grow and should not be interrupted.
In conclusion, he urged all governments to create a platform for trade to interact, support the proposal by the Commonwealth Business Council to set up a commonwealth trade finance bank.
It is also important that business entrepreneurs should continue to cooperate and dialogue among each other.
All delegates agreed that the forum should be an annual event.
Source Seychelles Nation
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