PNG India Business Council Launched to Boost Bilateral Trade
The Papua New Guinea India Business Council Inc. (PNGIBC), a legally registered industry platform, has been established to foster bilateral trade between Papua New Guinea and India. The founding Executive Committee members were announced, including Mr. Mahadevan Shankar as President, Mr. Rajeev Sharma as Vice President, Mr. James Gore as Treasurer, and Mr. Philip Samar as Secretary. Chief Sir Salamo Injia, KT GCL, is a senior committee member. The council will operate through National Industry Group (NIG) Leaders who will spearhead Business-to-Business (B2B) partnerships in specific industry verticals. Ambassador (Cmde) Peter Ilau, MQM DMS CBE (Retd), will lead the Defence & Security sector. This initiative marks a significant step in developing economic ties between the two nations.
The establishment of the PNG India Business Council Inc. signifies a structured approach to enhancing economic engagement between Papua New Guinea and India. By creating a formal platform with designated leadership for various industry sectors, the council aims to streamline B2B partnerships and facilitate trade. This move reflects a broader global trend of nations seeking to diversify trade relationships and leverage specific industry strengths for mutual economic benefit. The council's success will likely depend on its ability to navigate regulatory landscapes, foster genuine commercial relationships, and adapt to evolving market dynamics in both countries over the next decade.
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