VAST NEW OPPORTUNITIES FOR GLOBAL PARTNERSHIPS HAVE OPENED UP POST RECESSION --MUMBAI PRESENTS A MAJOR ONE: PRITHVIRAJ CHAUHAN
The collective response in times of crisis has demonstrated the power of partnerships on a global scale – whether it is challenge of climate change or of global trade agreement, nations must act in unison, said Mr. Anand Sharma, Chairman, The Partnership Summit 2011 and Minister of Commerce and Industry, Government of India in his Inaugural address at the 17th Partnership Summit 2011 organised by the Confederation of Indian Industry (CII) in partnership with Department of Industrial Policy & Promotion, Government of India and Government of Maharashtra here today.
Mr Sharma highlighted the role of the developing nations in the changed scenario and said that today more than half of the world’s economic growth is coming from the developing countries and that the Emerging 7 will overtake the G7.
Expressing concern over the isolationism in the current global economic scenario, Mr. Anand said that the immense opportunities of growth through free trade and economic partnerships have propelled nations to look for means of bringing down barriers. It is no longer an option for countries to stand back in isolation and to erect barriers around national boundaries.
A successful completion of Doha Development Round is expected to enhance global trade by US $ 500 billion and create millions of new jobs across the World, said Mr Sharma. He further added that India was fully committed to the multilateral processes which would provide the foundations of greater openness for trade in a predictable manner.
The World is emerging from an economic crisis, which has opened up vast new opportunities for closer global partnerships in social and economic development and trade and investment between India and other countries,” said Mr. Prithviraj Chauhan, Chief Minister, Maharashtra, addressing the Partnership Summit 2011.
Welcoming the delegates from across the World to Mumbai, he highlighted the factors that contribute to the attractiveness of Maharashtra as a global investment destination and alluded that Maharashtra has set the pace of India’s economic growth and industrial development by investing heavily in infrastructure and development of human resources and by providing environment in which private enterprise could flourish.
Turning the spotlight on Mumbai, Maharashtra Chief Minister said, “The multi-billion dollar ‘Mumbai Makeover’ plan presents tremendous opportunities for partnerships over the next few years in planning, investing in and executing large and innovative urban transport, housing, water supply, sewage disposal and energy projects.”
Addressing the Summit, Dr. Hage Geingob, Minister of Trade and Industry, Republic of Namibia said that Namibia was a young democracy open to business with India and invited Indian businesses to come and explore business opportunities with Namibia.”
Mr. Maqbool Ali Sultan, Minister of Commerce and Industry, Sultanate of Oman in his address said that the relationship between India and Oman was centuries old and was traditionally focused on trade. Today we see a shift towards investment as well and Oman offers competitive and comparative advantage in many fronts like cheap gas, he added.
Mr. Ahmed Reda Chami, Minister of Commerce, Industry, Foreign Investment and New Technologies, Kingdom of Morocco addressing the Summit said that Morocco’s strategic location makes it an ideal business hub for India. We have many free trade agreements with many European countries and have a good relationship politically with many African countries which makes it easy to do business with Morocco, he added. He said that many European nations are taking advantage of this strategic location stating, “What Mexico is for the US in terms of trade, Morrocco is for Europe.”
Addressing the Summit, Dr. Craig Emerson MP, Minister of Trade, Government of Australia, said that the world successfully resisted the pressure for protectionism. We now have an opportunity to revive the multilateral trade negotiations, he said while stating that Australia was engaging very constructively with India.
Dato Haji Ahmad Husni Bin Mohamad Hanadzlah, Minister of Finance, Malaysia in his address said that Malaysia was the first country to recover from the economic crisis and was also the first to normalize interest rates. He was of the opinion that the partnership between our two countries would lead to the linking of two of the most dynamic economies of the world which will help both of us to build a strong economy.
Mr. Gorden Moyo, Minister of State Enterprises & Parastatals, Zimbabwe addressing the Summit said that India has been a great and inspiring friend of Zimbabwe. Starting that Zimbabwe was a young democracy with opportunities for the world and India, Mr Moyo invited businesses to experience Zimbabwe.
Dr. Richard Konteh, Minister of Trade Industry and State Enterprise, Sierra Leone in his address at the Summit said that the emerging new partnerships would give Sierra Leone the opportunity to learn and present a new perspective of Sierra Leone. The country is a stable, peaceful and friendly democracy, he added.
Mr. Hari S Bhartia, President, CII, in his opening remarks said “We are conscious that the world is dealing with multiple challenges. The economic crisis is still not behind us. Nations are struggling to stabilize their economies and many issues still need to be overcome. Good news is that a new level of global partnership is taking shape and we look forward to stronger and newer partnership with the rest of the world.”
Mr. B Muthuraman, President Designate, CII in his concluding remarks said, “The summit gives an opportunity to build strong relations with the rest of the world by engaging with the thought leaders from the world on different subjects of cooperation and growth in the new world.”