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Indian Ocean Rim Association Workshop on SME Cooperation concludes

India finalised MoU on MSME with IORA



20.01.2017 16:02:13 - India finalised MoU on MSME Cooperation with Indian Ocean Rim Association (IORA) member countries.

(live-PR.com) - January 20, 2017 Naresh Sagar:Union Minister of MSME, Shri Kalraj Mishra Thursday inaugurated Workshop on MSME Cooperation amongst Indian Ocean Rim Association (IORA) Member countries. Speaking on the occasion, he said that this workshop will strengthen economic relationship amongst the member countries in the field of trade and investment facilitation especially in MSME sector. He also stated that India has

 

Memorandum of Understandings (MoUs) with 18 countries for cooperation in MSME sector. The National Small Industries Corporation of India, Public Sector Enterprise under the Ministry of MSME has 34 MoUs with its counterpart organizations of foreign countries for cooperation in MSME sector.
India concludes MoU on MSME Cooperation with Indian Ocean Rim Association (IORA) Member Countries
IORA Special Fund Created to Carry Out Activities Under this MoU. Shri Mishra also stated that this Workshop on SME cooperation will facilitate exchange of ideas, concerns and experiences of IORA member states and would help evolve a common MoU to address the emerging challenges in the region in MSME sector. He emphasized that the resilience in IORA over the last 20 years has been its innate strength. IORA’s evolution and growth have consistently seen an upward trajectory. He said that this strength must be reinforced by ensuring independence of strategy and priority. The onus of strengthening the regionalism in a composite manner must rest first on the shoulders of IORA members themselves.

Ministry of MSME, Government of India finalised MoU on MSME Cooperation with Indian Ocean Rim Association (IORA) member countries. The MoU will take effect for each party upon signature by 5 countries. The MoU finalized would be signed soon at an appropriate forum.

The focus areas of the Memorandum of Understandings (MoUs) are:

1. To finalise linkages and alliances amongst MSMEs organizations, associations and various institutions engaged in MSME development in their countries.

2. Exchange best practices, policies and programs for MSME development

3. Exchange greater involvement of MSMEs in the global supply chain, increase their market access.

4. Promote youth and women’s economic empowerment.

5. Encourage synergies with the IORA forum.

IORA Secretariat at Mauritius will be the coordinating agency for the implementation of the MoU. IORA special fund created for the member countries to use it for to carrying out activities envisaged under this MoU.
IORA Secretariat at Mauritius will be the coordinating agency for the implementation of the MoU. IORA special fund created for the member countries to use it for to carrying out activities envisaged under this MoU.
The objectives are the Parties will cooperate in listed areas on mutually agreed terms and conditions on said topics, but not limited to the list.

Promote a conducive business environment to expand the SME sector:

Enhance the competitiveness of SME sectors.

Devise and implement development program for SMEs;

Provide market access and business opportunities in IORA region.

Provide and develop entrepreneurship for SME sector.

Facilitate cooperate between SME institutions in IORA Member states.

Create a IORA database of equipments,technology and services.

Conduct studies and analysis for SME sector development strategist.

Facilitation of SMEs in securing financing from IORA special fund.

Organise capacity building workshops and training programs.

Encourage synergies with IORBF.

Promote women’s empowerment programms:


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