CCCI to organize trade mission to India anew

CEBU, Philippines — The Cebu Chamber of Commerce and Industry (CCCI) expressed its intention to mount another trade mission to India in a bid to strengthen trade linkages between Indian and Cebu-based companies.

CCCI past president Felix Taguiam made this announcement during the visit of Ambassador of India to the Philippines Shambhu S. Kumaran in Cebu to hold its first Business Roadshow-Cebu, which gathered over 40 Indian businesses showcasing their products and services to the Cebu market, including members of the chamber.

“It’s a matter of time that we organize a trade mission to India again and see how we do things together,” noted Taguiam emphasizing the high potential of India as a market for Cebuano businesses, as well as potential trade exchanges, particularly that India is considered as the world’s fastest-growing economy.

The CCCI mounted a successful trade mission to India in 2014. A delegation of 20 Cebuano businessmen explored trade opportunities in India.

In 2009, a delegation of 41 members embarked on a six-day trade mission to India, under the leadership of Mila Espina, the then-chairperson of CCCI-India Business Council. The delegation, consisting of both men and women, undertook business tours in New Delhi and Agra, engaging in business matching sessions to foster partnerships and explore opportunities. The primary focus was on enhancing collaboration in the fields of academic and trade exchanges.

Last November 15, CCCI and the India Business Forum (IBF) signed a memorandum of understanding to foster collaboration and cooperation. The partnership sets the stage for enhanced economic and trade relations between their respective business communities.

Taguiam said there will be a series of meetings after this partnership and they will probably go outbound trip to India to personally see what they have to apply and make Cebu better.

Recently, the IBF in cooperation with CCCI mounted the first India Business Roadshow-Cebu Edition that attracted 30 Indian businesses and 100 CCCI members for a business-to-business (B2B) matching activity.

The two-day business roadshow aims to grow trade relations between India and Cebu in seven priority areas—agriculture, energy, infrastructure, innovative technology solutions, information technology process management, healthcare and pharmaceuticals, and tourism.

India and the Philippines have entered a new phase in their economic relations with the volume of trade marking a new milestone. The last fiscal year registered a trade volume in surplus of US$3 billion.

Both India and the Philippines are young fast-growing democratic economies with immense potential for mutually beneficial collaboration.

Several Indian businesses across a range of sectors are already contributing to the positive growth story of the Philippines, the Ambassador said.

Last year, more than 100 influential Cebuano business leaders joined the first B2B (Business-to-business) matching event, a collaborative effort orchestrated by the CCCI and the Federation of Indian Chambers of Commerce (Phil) Inc., and the Embassy of India.

The Indian trade delegation comprised members from the Federation of Indian Export Organizations, a trade promotion body established by the Ministry of Commerce, Government of India, with support from the Embassy of India in Manila. — (FREEMAN)