(From left) FICCIM vice-president Suresh Kumar Gorasia, AACCI southern India secretariat chairman K. Kumaran and KLSICCI honorary secretary-general Nivas Ragavan at the business collaboration signing ceremony at the KLSICCI premises in Jalan Tuanku Abdul Rahman, Kuala Lumpur. (Pic courtesy of KLSICCI)

KUALA LUMPUR: Nearly 25,000 Indian business owners and trade associations nationwide got a shot in the arm, following the signing of a tripartite deal.

The members of the Federation of Indian Chamber of Commerce and Industry Malaysia (Ficcim), as well as the Kuala Lumpur and Selangor Indian Chamber of Commerce and Industry (KLSICCI), have forged a collaboration with the Asian-African Chamber of Commerce and Industry (AACCI).

KLSICCI honorary secretary-general Nivas Ragavan said the deal entailed access and liaison with some one million business and trade entities across the Indian Ocean, largely to the Indian sub-continent and the African continent.

Nivas added that the deal augured well to promote and boost the Malaysian Indian community’s varied business needs and activities.

“We are ever cognisant of and proactive regarding the nation’s fast-paced economic development, hence function as an all-important government-private sector link.

“KLSICCI strives for the equitable implementation of Malaysia’s economic, trade and fiscal policies and apportionments while playing the increasingly needful role of being an ever-vigilant mouthpiece for the trade and commerce needs of our Malaysian Indian business community,” he said after a business collaboration signing ceremony at KLSICCI’s premises in Jalan Tuanku Abdul Rahman.

The ceremony was officiated by Ficcim vice-president Suresh Kumar Gorasia, AACCI southern India secretariat chairman K. Kumaran and Nivas.

Nivas added that KLSICCI’s stellar role and dynamic performance in furthering trade and commerce activities had gained credible recognition from the government, the trade and commerce sectors and bona-fide entrepreneurs.

“We have also enabled win-win business collaboration and smart partnerships with a view to fostering mutually benefiting business joint-ventures, both on the local front and in the international business arena,” he said.

On AACCI, Nivas said it comprised various professionals of high repute from the entire Asian and African region with a view to giving their business community a voice and a tool to foster development and realise the United Nations’ Sustainable Development Goals 2030.

“To translate that vision into reality, AACCI is set to create transnational corporations, which would have presence in all associated member countries and whose capital would be built by nationals of all 102 prospective member countries.

“AACCI has set a goal to propel the major integration projects initiated by their governments to their effective realisation, and initiate a dialogue to eradicate trade deficiencies through multi-lateral advocacy programmes,” said Nivas.

He added that AACCI strived to advocate free enterprises with member countries’ Parliaments, industry commissions, regulatory bodies such as the World Trade Organisation and governments around the Africa and Asian countries.

Under the trilateral deal, all businesses will be brought under one big roof which will thrive to protect the common interests.

“It will also provide a bigger hunting ground for the members and stake holders by crossing the geographic borders and negotiating the various rules and laws prevailing in different countries and their numerous states.

“The purpose of this trilateral treaty is to promote and develop trilateral economic relations and enhance trade opportunities by increasing reach and business network.

“It will also provide a platform for businessmen to meet, discuss and explore business opportunities in trade, investments, transfer of technology, services and other industrial sectors,” said Nivas.

Nivas hoped the collaboration could set a series of political, diplomatic, social and economic agendas that could guarantee peace, progress, cooperation, freedom and justice.

“We wish to develop strong institutional trade and business relations between AACCI, Ficcim and KLSICCI, to establish a sustainable mechanism of dialogue and a platform for discussions.

“We also wish to exchange information on general economic status, taxation, investment opportunities, trade policies and legislative changes in their respective domain/region/country in order to strengthen trade, technological and industrial cooperation,” he said.