{"id":28722,"date":"2023-03-22T09:44:51","date_gmt":"2023-03-22T09:44:51","guid":{"rendered":"https:\/\/northwestnewstimes.com\/index.php\/2023\/03\/22\/landmark-mou-signed-between-africa-india-economic-foundation-and-the-african-union\/"},"modified":"2023-03-22T09:44:51","modified_gmt":"2023-03-22T09:44:51","slug":"landmark-mou-signed-between-africa-india-economic-foundation-and-the-african-union","status":"publish","type":"post","link":"https:\/\/northwestnewstimes.com\/index.php\/2023\/03\/22\/landmark-mou-signed-between-africa-india-economic-foundation-and-the-african-union\/","title":{"rendered":"Landmark MOU signed between Africa India Economic Foundation and the African \u00a0Union"},"content":{"rendered":"
\"\"<\/div>\n

G. Rathinavelu, Chairman & Co-Founder of AIEF & H.E. Amb. Albert M. Muchanga, AUC Commissioner<\/strong><\/p>\n

New Delhi (India), March 22:<\/strong>\u00a0In a path-breaking development, Africa India Economic \u00a0Foundation (AIEF) and African Union (AU) have signed a Memorandum of Understanding \u00a0(MOU) on 17th March 2023 to collaborate on promoting business and trade relations between the MSMEs, private and public sectors of African countries and India. The MOU \u00a0was signed at the African Union Headquarters in Addis Ababa, Ethiopia by Mr. G. \u00a0Rathinavelu, Chairman & Co-Founder of AIEF, and H E Amb. Albert M. Muchanga, \u00a0Commissioner for Economic Development, Trade, Tourism, Industry and Minerals (ETTIM) \u00a0Department, on behalf of the African Union. Representatives of the ETTIM Department of \u00a0the African Union Commission and the Co-founders and other founding members of AIEF \u00a0also attended the signing ceremony.\u00a0<\/p>\n

This historic pact marks the first of its kind collaboration between a private organisation in \u00a0India (AIEF) and the African Union. AIEF was also the first private Indian business \u00a0organisation to be expressly recognised in the African Union Summit decisions in 2020. The \u00a0MoU seeks to bring together the business entities in India and Africa and leverage the \u00a0expertise of both sides to promote investment, facilitate skill development and technology \u00a0transfer, bring MSMEs together and boost private and public sector trade relations. This\u00a0<\/p>\n

agreement fits in with the desire of Indian and African leadership to forge closer business \u00a0ties between the private sectors and contribute to the prosperity of Africa and India in their \u00a0march to realise the shared goals & objectives.\u00a0<\/p>\n

On behalf of H.E. Moussa Faki Mahamat, Chairperson of the African Union Commission, \u00a0H.E. Amb. Albert M. Muchanga, Commissioner for Economic Development, Trade, Tourism, \u00a0Industry and Minerals stressed the importance for partners to be innovative and quickly \u00a0develop a Joint Action Plan (JAP-AU\/AIEF) and proceed with its implementation. He also \u00a0called on the partners to effectively involve the African private sector in all stages of the \u00a0implementation of this new partnership,\u00a0<\/p>\n

In his remarks, Mr. G. Rathinavelu, Chairman & Co-Founder of AIEF indicated that the \u00a0organization is pleased to collaborate with the African Union to drive progress in all sectors \u00a0for empowering and transforming business relations between MSMEs of India and Africa. \u00a0This MOU is an important milestone in achieving our mission.\u201d said the Co-Founders of \u00a0AIEF.\u00a0<\/p>\n

As a reminder, the Africa India Economic Foundation was founded by the Co-Founders<\/p>\n

Mr. \u00a0G. Rathinavelu of India and Dr. Pierre Atepa Goudiaby of the Republic of Senegal and \u00a0registered in India. It was primarily established to integrate and promote knowledge, \u00a0technology, industry, trade, commerce and investments between MSMEs, private and public \u00a0sectors of India and countries of Africa. The Co-Founders were also instrumental in acting as \u00a0a catalyst for establishing the successful TEAM-9 initiative of the Government of India in \u00a02004. TEAM-9 was a pioneering initiative with eight West African countries where India \u00a0extended a credit line of USD 500 million for economic, infrastructural, and social sector \u00a0projects in these West African countries which was successfully utilized.\u00a0<\/p>\n

For more information, please visit:\u00a0https:\/\/www.aief.info\/<\/a><\/p>\n

If you have any objection to this press release content, kindly contact pr.error.rectification[at]gmail.com to notify us. We will respond and rectify the situation in the next 24 hours.<\/em><\/p>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

G. Rathinavelu, Chairman & Co-Founder of AIEF & H.E. Amb. Albert M. Muchanga, AUC Commissioner New Delhi (India), March 22:\u00a0In a path-breaking development, Africa India Economic \u00a0Foundation (AIEF) and African Union (AU) have signed a Memorandum of Understanding \u00a0(MOU) on 17th March 2023 to collaborate on promoting business and trade relations between the MSMEs, private […]<\/p>\n","protected":false},"author":1,"featured_media":28723,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[17],"tags":[1343],"class_list":["post-28722","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","tag-business"],"_links":{"self":[{"href":"https:\/\/northwestnewstimes.com\/index.php\/wp-json\/wp\/v2\/posts\/28722","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/northwestnewstimes.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/northwestnewstimes.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/northwestnewstimes.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/northwestnewstimes.com\/index.php\/wp-json\/wp\/v2\/comments?post=28722"}],"version-history":[{"count":0,"href":"https:\/\/northwestnewstimes.com\/index.php\/wp-json\/wp\/v2\/posts\/28722\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/northwestnewstimes.com\/index.php\/wp-json\/wp\/v2\/media\/28723"}],"wp:attachment":[{"href":"https:\/\/northwestnewstimes.com\/index.php\/wp-json\/wp\/v2\/media?parent=28722"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/northwestnewstimes.com\/index.php\/wp-json\/wp\/v2\/categories?post=28722"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/northwestnewstimes.com\/index.php\/wp-json\/wp\/v2\/tags?post=28722"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}