Chambers of Indo-Pacific region agree to work together under common platform: BCCI

Eight chambers of Indo-Pacific countries on Thursday agreed to work together under a common platform to boost trade and commerce in the region which accounts for nearly USD 47 trillion in economic activities annually.

The Bengal Chamber of Commerce and Industry (BCCI) said that a proposal for creating such an association was tabled and received a tremendous response at the Indo-Pacific Economic Conclave, as such a platform would benefit the development of regional trade and commerce.

''India is taking a lead on several fronts in global economic affairs which is evident from the G20 presidency. We mooted a proposal for a common platform called the Association of Indo-Pacific Chambers of Commerce (AIPCC), and we received a proactive response,'' said BCCI director-general Subhodip Ghosh.

Ghosh said that the AIPCC will be a non-political, non-governmental body.

It will also be a forum that connects chambers across borders, creating a better environment for businesses and MSMEs, and driving prosperity and opportunity for all common stakeholders, the chamber stated.

ASEAN-India Business Council, Bhutan Chamber of Commerce and Industry, Nepal-India Chamber of Commerce and Industry, Thailand-India Business Council, The Chittagong Chamber of Commerce and Industry, Indian Business Chamber in Vietnam, Indo-Australian Chamber of Commerce, and Japan External Trade Organisation were among the trade-related bodies present at the meeting, attended by officials from 11 countries.

Meanwhile, BCCI president Subir Chakraborty said that the region accounts for more than 60 per cent of global GDP and almost 50 per cent of global merchandise trade.

Speaking about the position paper released at the event, Ambarish Dasgupta of Intueri Consulting said that the Indo-Pacific region is one of the most vibrant and dynamic areas in the world, accounting for 50 per cent of global maritime trade and generating a staggering USD 47.93 trillion in economic activity.

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