CONCEPT NOTE & PROPOSAL ON 5th ACT EAST BUSINESS SHOW - 2018 20th – 23rd June 2018, Shillong, Meghalaya ORGANISED BY INDIAN CHAMBER OF COMMERCE NORTH EAST INITIATIVE Submitted to Chemicals and Allied products Export Promotion Council(CAPEXIL) For further details please contact: Mr. Pranom.d.Mazumdar, Deputy Director Indian Chamber of Commerce, North East Regional Office, Kushan Plaza, 1st Floor, Opp. Ganeshguri Petrol Pump, Above Mukesh Hyundai, Ganeshguri, G.S. Road, Guwahati – 781006, Assam Mob.#: 8638034047/9859646738 E-mail: [email protected] BACKGROUND: The North eastern region in India has a long and unusual history. Comprising of eight states, the region, constitutes roughly of around 7.98% of the country’s geographical area and accounts for around 3.79% of the total population. As a linguistic contact zone and a focal point of continuity, the Northeast, has traditionally played the role of a corridor for human migrations including, perhaps, the first migrations from Africa towards East Asia and Australia more than 40,000 years ago. Situated on the southern trails of the Silk Road, the region consists of a fascinating mix of cultures and races that owe their origin to a long history of intercourse with civilizations, originating both from the West and the East. More specifically by virtue of its geographic contiguity and ethnic commonality with the civilizations to its East, Northeast India, continues to serve as an umbilical cord connecting India with her eastern counterparts. INDIA & ASEAN: Association of South East Asian Nations (ASEAN) is a leading trade bloc of the World which comprises Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam. ASEAN and India signed the ASEAN-India Trade in Goods (TIG) Agreement in Bangkok on 13 August 2009 after six years of negotiations. The signing of the ASEAN-India Trade in Goods Agreement paved the way for the creation of one of the world’s largest free trade areas (FTA) - market of almost 1.8 billion people with a combined GDP of US$ 2.8 trillion. The ASEAN-India FTA will see tariff liberalization of over 90% of products traded between the two dynamic regions. Tariffs on over 4,000 product lines will be eliminated by 2016, at the earliest. The ASEAN-India TIG Agreement entered into force on 1 January 2010. During the 10th ASEAN-India Summit in November 2012, the ASEAN- India Leaders tasked their economic ministers to step up their efforts and flexibility to conclude the ASEAN-India Trade in Services and Investment Agreement at the earliest. Subsequently, an announcement on the conclusion of the negotiations on both Agreements on ASEAN-India Trade in Services and Investment was made at the ASEAN-India Commemorative Summit on 20 December 2012. By January 2015, the Agreement has been signed by all ASEAN Member States and India. The Agreement will enter into force in July 2015. ASEAN and India are also working on enhancing private sector engagement, including the re-activation of the ASEAN-India Business Council (AIBC), the holding of the first ASEAN- India Business Summit (AIBS) and an ASEAN-India Business Fair and Conclave (AIBFC) held in New Delhi on 2-6 March 2011 with participation of an estimated 500 trade exhibitors, business leaders, practitioners and entrepreneurs from ASEAN and India to showcase their products and services. The 2nd AIBF was held at the sidelines of the ASEAN- India Commemorative Summit, in New Delhi on 18-20 December 2012. The events were part of the efforts to stimulate trade and business-to-business interaction. NE INDIA, ASEAN & SE ASIA: In this context, India’s Northeast region (NER) came to be seen in a new light. Several steps have been taken to improve relations with India’s immediate neighbors like Bhutan, Nepal, Bangladesh & Myanmar. India has also trade relations with Thailand and Singapore. India and Myanmar share a 1643 km long border. Myanmar being a member of ASEAN, the north eastern states of India become an important link between the two parties. The location of NER is such that it shares only 2 per cent of its border with the Indian mainland whereas 98 per cent is surrounded by various neighboring countries. In the West and South West, it shares 1880 km with Bangladesh, 1643 km with Myanmar in East and South East, 1000 km with China in the East and North East and 1100 km with Bhutan in the North and North West. Unfortunately, the gamut of opportunities that this very geo- economic advantage offers, could not be harnessed to its real potential till date. This situation is sought to be changed by opening the region to trade, commerce and communication and hence various policy measures has been designed and suggested towards this direction. However, a reality check on border trade infrastructure suggests scope of huge improvement. Role of ICC in fostering closer NE India – SE Asia Ties: ICC’s North-East Initiative has gained a new momentum and dynamism over the last few years, and the Chamber has been hugely successful in spreading awareness about the great economic potential of the North-East at national and international levels. ICC, which is recognized by the Govt. of India as the Nodal Chamber for the North-East region, has a special focus upon India’s trade & commerce relations with South & South-East Asian nations, in sync with India’s ‘Look East’ Policy, and has played a key role in building synergies between India and her South East Asian neighbors like Singapore, Indonesia, Myanmar, Thailand, Bangladesh, and Bhutan through Trade & Business Delegation Exchanges, and large Investment Summits. The “North East India Trade & Investment Opportunities Week”, in Bangkok in 2007 was the largest ever Business Delegation from India to Thailand projecting the NER. The 3-day “ASEAN - North-East India Trade & Investment Opportunities Summit”, in Ho Chi Minh City, Vietnam in 2009, was the first ever initiative from India to unfold the vast resources of the North Eastern region in Vietnam. ICC has also been regularly working on North-East & Myanmar relations through various activities including exchange of high-level delegations. For improving bilateral trade & commerce between India and neighboring Bangladesh, ICC has organized high level Ministerial delegations to Dhaka to meet H.E. Madam Sheikh Hasina, Prime Minister of Bangladesh, twice, and has been regularly updating Ministry of Commerce and PMO on the business issues, sentiments and sensitivities of Bangladesh Government and Industry. The Indian Chamber of Commerce organized “India INVESTRADE” in Sri Lanka, a mega Conference cum Exhibition focusing upon the Realty Construction & Construction Materials sectors. Construction & Real Estate is truly an area which can strengthen India-Sri Lanka trade & investment linkages due to its huge potential. The ICC has also been trying to build stronger bridges of economic & trade co-operation with China, and has taken a delegation to the South Asian Business Forum in Kunming, Yunnan, a number of times. As a part of the ASEAN commemorations in 2012, and as a part of the ASEAN Sailing Expedition by STA Sudarshini, ICC, in association with the Ministry of External Affairs, Govt. of India, organized a series of programmes aimed at strengthening bilateral strategic partnerships between India and her South-East Asian neighbors These meaningful programmes, which brought together key Govt. functionaries and Corporate Leaders from India and her South East Asian partners, played a major role in enhancing co-operation and exchanges in strategic sectors like Mining, Agro & Food Processing, Healthcare, Pharmaceuticals, Tourism, Infrastructure, IT & ITeS, Automotive, Oil & Gas, etc. Further, discussion is also being initiated with Australia, Singapore and UAE. There is an ongoing initiative with NRIs of the North eastern Region in the US to project the North eastern Region as an attractive FDI and trade destination world-wide and specifically under the Look East Policy. These measures aim to bring the light of development to the various tribal and non-tribal corners of the North Eastern region. Keeping in view this increased importance of the North Eastern Region for promotion & enhancement of trade with the South East Asian countries, the Indian Chamber of Commerce (ICC) is organizing the 5th ACT EAST BUSINESS SHOW-2018 from 20th – 23rd June 2018, Shillong, Meghalaya. COMPONENTS OF THE 5th ACT EAST BUSINESS SHOW - 2018 Component –I ACT EAST BUSINESS SHOW wherein various companies from South East Asian countries along with local Indian Companies will participate and display/launch their products and will have regular buyers –Sellers meet. Component –II Business Seminars on various sectors of importance for fostering closer NE India – SE Asian ties. OBJECTIVES: The Act East Business Show - 2018 shall be a unique forum to establish new business contacts and play an important role in the development of business by enhancing mutual investment prospects between NE India and the South East Asian Countries through leveraging areas of common interests. The Act East Business Show - 2018 shall serve as an ideal platform for the industry and offer a plethora of services that include: Avenue for presentation & launch of new products Understand needs and device means for development of various small scale industry Connect with new dealers & distributors. Cost-effective promotion of products and services. Generate immediate sales and orders. Achieve better understanding of the regional markets. Providing