India signs MoU with Lebanon

India’s premier industry body Confederation of Indian Industry (CII) signed an MoU with the Chamber of Commerce, Industry and Agriculture of Beirut and Mount Labonon Friday during the visit of the first ever CII Business delegation to Lebanon. The delegation was in Lebanon to participate in the “Visions of India” – an initiative taken by the Embassy of India in Beirut in partnership with the Association for Development of Lebanese Indian Relations (ADLIR) and to explore business opportunities in Lebanon. During the visit CII Business delegation participated in two mega business seminars – one organized by YPO Beirut Chapter and the other jointly by Embassy of India, Chamber of Commerce, Industry and Agriculture of Beirut and Mount Lebanon and the Turkish Embassy in Lebanon. A Turkish Business Delegation was also present along with leading Lebanese businesses and industry in this event. “Keeping in view of the trends in both India and Lebanon, it is necessary that business communities in both countries should know each other better and India could be a new and very reliable partner for Lebanon, said Ravi Thapar, Ambassador of India to Beirut during his address, a CII release mail to IRNA said. He said that this is particularly important now as Lebanon is seeking to build up its infrastructure, empower its rural population, achieve balanced growth, all of which are areas in with India has strengths and experience. “While Indian businesses could enter into lucrative joint projects and ventures in Lebanon and markets in other countries, Lebanese entrepreneurs could consider investing in India’s booming economy,” Ravi said. He noted that to facilitate such objectives, the Embassy of India, has taken the initiative to establish the Association for Development of Lebanese Indian Relations (ADLIR), which will strive to strengthen the ongoing linkages between both countries by networking with experts and institutions both in government and private sector in both countries. Meanwhile, in an exclusive meeting with the Indian Business delegation, Nicolas Nahas, Minister of Trade and Economy of Lebanon proposed and invited the Indian companies to participate in the India-Lebanon Mart to be set up in Tripoli which will facilitate Indian companies to expand its export in the entire middle east, Africa and European countries.