The 4th India – CLMV (Cambodia, Lao PDR, Myanmar and Vietnam) Business Conclave was held in Jaipur.
Trade with the CLMV countries grew from USD 1.5 bn to more than USD 10 bn in the last 10 years and it is hoped that India will be able to partner in more trade initiatives with these countries to develop a strong India-CLMV vertical within the ASEAN market.
Cambodia, Lao PDR, Myanmar and Vietnam collectively, is the third largest economy in ASEAN, followed by Indonesia and Thailand. Due to close proximity, India is looking to boost trade and investment with the CLMV region as part of the ‘Act East’ policy announced by the Prime Minister during the 12th India – ASEANSummit in 2013.
The CLMV conclave is an annual feature which provides an opportunity for Indian business leaders to interact with government and business stakeholders representing the four countries.
The conclave facilitates to create and provide a platform for the decision makers from CLMV countries to interact with a range of Indian business companies involved in trading, manufacturing, processing, engineering, consultancy, construction etc.
CII has decided to open two offices in the CLMV region i.e Myanmar and Vietnam which would further the intra-regional trade.