Indian Ocean Rim Association Workshop on SME Cooperation concludes

India concludes MoU on MSME Cooperation with Indian Ocean Rim Association (IORA) Member Countries

IORA Special Fund Created to Carry Out Activities Under this MoU

Ministry of MSME, Government of India finalised MoU on MSME Cooperation with Indian Ocean Rim Association (IORA) member countries. The MoU will take effect for each party upon signature by 5 countries. The MoU finalized would be signed soon at an appropriate forum.

The focus areas of the Memorandum of Understandings (MoUs) are:

1. To finalise linkages and alliances amongst MSMEs organizations, associations and various institutions engaged in MSME development in their countries.

2. Exchange best practices, policies and programs for MSME development

3. Exchange greater involvement of MSMEs in the global supply chain, increase their market access.

4. Promote youth and women’s economic empowerment.

5. Encourage synergies with the IORA forum.

IORA Secretariat at Mauritius will be the coordinating agency for the implementation of the MoU. IORA special fund created for the member countries to use it for to carrying out activities envisaged under this MoU.