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FICCI's ‘Latin America and Caribbean Newsletter’, showcases key developments in LAC region, initiatives of Indian companies in LAC, initiatives of LAC Companies in India and activities of the FICCI LAC division.


  • 1. Latin America &Caribbean Newsletter November 2012 | Volume 1 | Issue 1ForewordR. V. KanoriaPresident, FICCI Dear Readers, inside this issue I am delighted to present to you the inaugural edition of theIndia-Brazil CEOs ForumLatin America and Caribbean Newsletter, which showcases key developments in LAC region, initiatives of Indian companies inIndo-Mexican working group LAC, initiatives of LAC Companies in India and activities of the FICCI LAC division.India & Chile to start talks on FTA The dynamics of global trade has changed significantly over the past few decades. India and LAC have emerged as engines ofChile explores market access for growth in the changing world economic scenario. These regionsagricultural productsare fuelled by robust domestic demand and continuously improving economic competitiveness. They share a focus onMexican Tequila delegation in Indiadevelopment, price sensitive consumers and a young population, which provide the basis for a synergistic partnership. In recentIndia must consolidate engagementyears, there has been a quantum increase in bilateral tradewith CELAC and investment between India and the LAC region. This has considerably enlarged the scope of engagement for economic cooperation.Colombia now South Americas No.2Economy As a part of efforts to strengthen relations with LAC region, FICCI has been proactively creating better understanding of theIndia sets to expand PTA with Chileareas of mutual interest that Indian companies want to explore in LAC markets. This is part of the efforts to transcend IndiasExim bank extends Line of Credit cooperation with LAC at the strategic Cuba Through this newsletter, we hope to highlight the increasing engagement of India with LAC countries.Costa Rica eyes India IT, Servicessectors The forthcoming events of the LAC have also been mentioned in this issue and we seek active participation of all our membersIndian Companies in LACin our LAC initiatives.LAC companies in India We look forward to your feedback and hope that you enjoy reading our newsletter. FICCI : Industrys Voice for Policy Change

2. Latin America &India-Brazil CEOs ForumCaribbean NewsletterNovember 2012 | Volume 1 | Issue 1FICCI, organized Indian CEOs Delegation to Brazil,accompanying Mr Anand Sharma, Honble Ministerof Commerce and Industry and Textiles, Governmentof India, to Brazil from June 11-14, 2012. The CEOsdelegation from Indian side was led by Mr K V Kamath,Chairman, Infosys Ltd. Other prominent members includedMr Rajya Vardhan Kanoria, President, FICCI and Chairman andManaging Director, Kanoria Chemicals & Industries Ltd., andMr Narendra Murkumbi, Vice Chairman and Managing Director,Shree Renuka Sugars Ltd., Ms Vijaylaxmi Joshi, Chairman and India & Chile toManaging Director, MMTC Limited & Mr Shyamal Bhattacharya,start talks on FTAExecutive Director, ONGC Videsh Limited. Dr Rajiv Kumar,Secretary General, FICCI, represented FICCI as Member The Foreign Minister of Chile, Mr Alfredo Moreno, was on aSecretary of CEOs Forum.tour to India from August 6th to 8th, 2012 to discuss bilateralissues of importance between Chile & India with specialAn interactive meeting of the CEOs delegation from FICCI with relevance to the Community of Latin American and Caribbeansenior CNI officials was organized at the CNI HeadquartersStates (CELAC).in Brasilia. The meeting was attended by about 30-35participants from both sides. The meeting was attended by During his stay in New Delhi, he met the then Minister ofMr Rubens Gama, Director Trade Development and Mr CarlosExternal Affairs of India, Mr S.M Krishna. In addition to this, theEduardo Abijaodi, Director Industrial Development of CNI. agenda of Mr Moreno included meetings with the Minister ofCommerce & Industry and Textile of India, Mr Anand Sharma,and the Minister of New and Renewable Energy, Mr FarooqAbdullah, along with a meeting with the Vice President of thePlanning Commission, Mr Montek Singh Ahluwalia.On the second day of his visit, Mr Moreno attended theconference Recent Developments in Latin America and theCaribbean organized by the Indian Council of World Affairs(ICWA).During his official visit, the Chilean Foreign Minister confirmedthat Chile and India may begin negotiations on a free tradeagreement by the end of this year. The FTA between theMr Anand Sharma, Honble Minister of Commerce, Industry and Textiles oftwo countries will replace the current Preferential TradeIndia and Mr Carlos Abijaodi, Director of Industrial Development, CNI Agreement, signed between the two countries in the year2007.Indo-Mexican working groupDuring the first half of 2012, Chilean exports to India increasedon Investment promotion and 45% and reached 1,359 million USD, while sales of productsIndustrial dialogue meets infrom India to the Chilean market showed an increase of 29%,reaching the 310 million USD.New DelhiA high level delegation from Mexico headed by Mr CarlosGuzman, Director General of ProMexico and H E Mr JaimeNualart, Ambassador of Mexico to India met Mr S R Rao,Commerce Secretary, Government of India. The 3rd bilateralhigh level group between India and Mexico met in New Delhi on30th October 2012. FICCI presented the feedback from Indianindustry from the pharma and automotive sector highlightingthe issues and concerns. A new pathway has been created tocrease out the issues from both sides.In an exclusive meeting between Mr Carlos Guzman, H EJaime Nualart and the Dr Anupam Srivasatava, Head InvestIndia , a joint initiative of MOC & I and FICCI, both sides touchedupon various issues and shared a vision of working closely to Bilateral meeting between the Minister of Commerce & Industry of India,promote investments in both the countries.H.E. Mr Anand Sharma, and the Minister of Foreign Affairs of Chile,H.E. Mr Alfredo Moreno.FICCI : Industrys Voice for Policy Change 3. Latin America & Caribbean Newsletter November 2012 | Volume 1 | Issue 1Chile exploresmarket accessfor agriculturalproductsIn order to gain market access for Chilean lentils, peas, andMexican Tequila delegation in Indiachickpeas into India, and to understand the level of development FICCI LAC, in cooperation with ProMexico, organized anin this industry, the Ministry of Agriculture, Govt. of Chileinteractive meeting with Mexican Tequila delegation onorganized a visit of its technical officials to India. Mr. Gustavo September 20, 2012 in New Delhi. The delegation includedRojas, National Director, Office of the Agricultural Studies representatives of Mexican tequila companies: Tequila& Policies of Chile (ODEPA) and Mr. Pedro Bustos, National Aeroplano, La Cofradio, Triunfo and Consenjo Regular de Tequila.Director, Institute of Agricultural Research, Chile (INIA) alongwith Mr Mario Parades, Director, International Cooperation of FICCI will be working closely with ProMexico to strengthenINIA, and Mr Miguel Pea, Head of International Affairs Division, Indias engagement with LAC and bring together businessSAG (Agricultural and Livestock Services of Chile) were a part communities of both the countries.of the delegation.During their stay in India, September 10-14, 2012, the delegatesmet the researchers from the International Crops ResearchInstitute for the Semi Arid Tropic (ICRISAT), and the IndianInstitute of Pulses Research (IIPR). These meetings providedthem a chance to survey the field projects and examine thepossibility of public private cooperation between Chile andIndia. ficci officials with members of Tequila delegationThe Chilean professionals also met officials from theIndia must consolidate engagement with CELACDepartment of Agriculture and Cooperation, Ministry of On Aug 7, Chiles Foreign Minister Alfredo Moreno, on an official visitAgriculture of India in order to discuss about the market access to India, had a wider agenda than his ministrys brief. He was in Delhiconditions for this Chilean products. They also met officials of representing the recently formed Community of Latin American and Caribbean States, or CELAC, its Spanish acronym. The most recentthe Indian Council of Agricultural Research (ICAR), with whom pan-regional grouping was formally launched in Venezuela at aINIA had signed a MoU in 2007. summit last December, though it was announced at an earlier summit of regional leaders in Mexico in February 2010.The Chilean representatives had a very fruitful and satisfactory Read More>>tour.They stressed the importance for Chile to learn from Indiaregarding the pulses production and technology.Colombia now South Americas No.2 Economy Colombia has moved ahead of Argentina to become South Americas second-largest economy, the outgoing Colombian finance minister said. Colombia surpassed Argentina in GDP, we are the second economy in South America after Brazil and the third in size (in Latin America) after Brazil and Mexico, Juan Carlos Echeverry told . Read More>> India set to expand PTA with Chile Indias Union Minister of Commerce, Industry and Textiles Anand Shar- ma met Minister of Foreign Affairs, Chile Alfredo Moreno, and agreed on the advanced state of the PTA expansion negotiations at the end of the 5th round of negotiations concluded in New Delhi on August 3rd and 4th, and the imminent finalisation of the expanded PTA for final approvals on both sides. Read More>> Exim bank extends line of credit to Cuba Export-Import Bank of India (Exim Bank) has extended a Line of Credit (LoC) of US $5 million to Government of Cuba for financing the setting up of a milk powder processing plant in Camaguey Province of Cuba.Chilean delegates visiting ICRISAT-Kanpur. Read More>> FICCI : Industrys Voice for Policy Change 4. Latin America & Caribbean NewsletterNovember 2012 | Volume 1 | Issue 1 About FICCI-LAC DivisionCosta Rica eyes India IT, services sectorsCosta Rica, a Latin American country, plans to sign an investmentThe Latin America and Caribbean Divisionprotect


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