TrilateralÂ business initiativeÂ to develop close links between private sectors andÂ micro,Â small and medium enterprises
US India SME Council (USISME Council) and Africa India Economic Foundation (AIEF) have launched a Strategic Economic Development Partnership for bringing America, Africa, and India together.
Launched in New York City Monday, the new global initiative aims at integrating and developing close business relationship, technology and commercial links between their private sectors and micro, small and medium enterprises.
During the kickoff of this initiative, an MoU was signed by Elisha Pulivarti, CEO of USISME Council, based in Washington DC, and G Rathinavelu, Chairman and Co-Founder AIEF, based in Mumbai in the presence of UN General Assembly President Dr. Abdulla Shahid.
About 35 African countries representatives and another 35 Business Entrepreneurs attended this historic event at Armenian Hall, New York, according to a media release.
The United States has more than 32 million, and Africa continent has 50 million and India has 63 million small-medium enterprises creating more than 70 percent employment and 55 percent of GDP.
With USISME Council and AIEF committed to support the United Nations 17 sustainable Development Goals (SDGs) Abdulla Shahid highlighted the importance of micro, small and medium businesses enterprises.
Noting that MSMEs are the bedrocks of any economy contributing to employment, sustainable development, and poverty alleviation, the release said, It is in the spirit of strengthening these partnerships that the USA-Africa-India SMEs B2B Collaboration is being launched.
This exciting new initiative will increase linkages between businesses, especially small business entities, throughout Africa, India, and the United States, it said, and in doing so, it will directly impact communities on the ground across all three of these commercially dynamic regions.
This triangular partnership initiative not only connects developed nations with developing nations but also opens business and economic opportunity and empower the developing nations, the release noted. It is also going to help the natural wealth of Africa transform into specialty top-quality products for the global markets.
Itâ€™s the strategic global initiative of Africa India Business Center (AIBC), which is a platform designed for the business communities in Africa and India to access and promote their respective markets.
The SME Council provides platforms, both governmental and non-governmental, that will induce sharing of information regarding new and innovative business endeavors emerging on the horizon.
AIEF established in Chennai, India in 2007 aims to support strong B2B links for overall development of India and Africa specially to empower Arican Entrepreneurs and businesses.
The Co-founders of the Foundation were instrumental in conceptualization of TEAM-9 (Techno Economic Approach for Africa India Movement) between 8 West African countries and India.
The success of TEAM-9 inspired the Co-founders to create AIEF to connect the entire African continent with India. In order to achieve these goals, AIEF plans to build Africa India Business Complex in Mumbai, India, the release said.
AIBC includes a state-of-the-art exhibition hall, convention halls, cultural center, food courts, hotels and retail shops with Africa products and to promote business, trade, cultural, art and people to people contacts and interactions.
All 55 Africa Continental countries will have their trade offices and representatives in Africa India Trade center to promote the â€œAmerica-Africa-Asia” (AAA) Trade and Economic Development among these countries.
Mali Foreign Minister Abdoulaye Diop, Angolan Foreign Minister, Tete Antonio, Permanent Representative of Gabon to the UN Michael Xavier Biange, Chair of the African Group, Fatima Kyari Mohammed, and Africa Union Ambassador Issa Konfourou were among others who spoke at the event.
Senator Kevin Thomas, New York State and Dr Rajan Natarajan, Former Deputy Secretary of State of Maryland also spoke.