WTC Xiamen Facilitates India-China Relations

MUMBAI, INDIA - A high-level trade exploratory mission led by Mr. Scott Wang, Vice President, Asia Pacific, World Trade Center Association, New York (WTCA) along with Mr. Zhong Chen, Vice Chairman, World Trade Center Xiamen (WTC Xiamen) and Mr. Vincent Lin, Director, Ribest Ribbons & Bows (India) Pvt Ltd. interacted with members of trade and industry at the World Trade Centre Mumbai (WTC Mumbai) on December 7, 2015. The objective of their visit was to strengthen bilateral relations between Xiamen and India, and also, to invite WTC Mumbai to lead a delegation to the International Fair for Investment and Trade (CIFIT) in China during September 8-11, 2016, in order to project India as an investment destination.

During the meeting, Mr. Chen mentioned that the business community in Xiamen was keen to invest and trade with India in infrastructure, energy, electronic goods and e-commerce. To promote co-operation, information on legal, regulatory and policy environment in India must be furnished to Chinese companies regularly and a one-point contact must be established.

Mr. Chen said China Council for the Promotion of International Trade (CCPIT) is operating sales and marketing office in Mumbai, promoting exports of goods and services between the countries in 13 sectors. WTC Xiamen has proposed India as an important market to be linked by the ambitious ‘One Belt One Road’ Project, being implemented by the Chinese government.

During the meeting, World Trade Center Xiamen signed a Memorandum of Understanding (MoUs) with WTC Mumbai and another with AlAI to facilitate business between both countries.

Mr. Wang stated that WTCA would take all steps to strengthen commercial ties between India and China. WTCA would also organise a training programme to inculcate best practices in trade promotion among World Trade Centres in India and China. He suggested Indian entrepreneurs should take advantage of 46 World Trade Centres operating in China to facilitate their business.

While highlighting the advantages of investing in India, Mr. Lin emphasised on cheap labour, availability of land, power and other infrastructure facilities. Specifically, the cost of labour in India is around 30% cheaper than China. Mr. Lin’s office is located at the WTC Mumbai.

Mr. Kalantri, Vice Chairman, WTC Mumbai assured that WTC Mumbai and AlAI would liaise with Maharashtra Industrial Development Corporation (MIDC) to support Chinese investment in Maharashtra. He assured Mr. Scott that WTC Mumbai would send a business delegation to CIFIT 2016.

He advised Chinese entrepreneurs to source raw material from China and manufacture finished goods in India. He suggested exploring investment opportunities in infrastructure in addition to manufacturing.

PHOTO: Mr. Vijay Kalantri, Vice Chairman, WTC Mumbai presenting bouquets and mementoes to Mr. Scott Wang, Vice President - Asia Pacific, WTCA, New York (left of Mr. Kalantri) and Mr. Zhong Chen, Vice Chairman, WTC Xiamen (right of Mr. Kalantri) during an interactive meeting on December 7, 2015 at the WTC Mumbai.

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