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Today Date : Thursday, May 23, 2024

Latin American Caribbean trade office inaugurated

Latin American Caribbean trade office inaugurated

The Latin American Caribbean Trade Office (LACTC) and the Indian Economic Trade Organization (IET) have opened an office in Chennai, India, aimed at promoting economic cooperation and strengthening ties between the world's largest agricultural country and Latin American nations. 
The office, led by the Chairman of LACTC, will work with MSMEs from both regions to explore opportunities in hospitality, mining, and tourism sectors. The Ambassador of Jamaica, His Excellency Jason Hall, expressed excitement about the potential for trade between India and Latin America, citing Jamaica's strategic location as an excellent tourist destination. 

The delegation from India is scheduled to visit the Caribbean region in 2023. Indian film makers, such as Purple Rock Entertainment, are exploring exotic locations in the region for their upcoming projects and are in discussions with the LACTC office in Chennai for support and coordination.
The Jamaican High Commissioner emphasizes the importance of agriculture and technology in strengthening relations between the two countries. 

The IETO delegations recently signed MOUs in areas such as agro forestry, tourism, hospitality, solar energy, and pharmaceutical products. 
India has a large market for Jamaica's medical education sector and pharma talent, with high potential for bilateral cooperation in skill development, affordable housing, agriculture, tourism, and entertainment. 
Jamaica has a relaxed work culture, a peaceful place, and numerous opportunities for investment in resorts, hotels, and education. 

The Chairman of the Latin American Caribbean Trade Office aims to build bilateral relations between India and the Latin American region, with the upcoming India LAC conference in October 2023 attracting significant interest. 

The delegation from other Latin American countries is expected to visit Tamilnadu in 2023 and sign MOUs with various pharma and IT companies, with the office of the Latin American Caribbean Trade facilitating these mechanisms.