FFFAI and MIFFA sign MoU in Mumbai to facilitate bilateral trade

MUMBAI: On March 29, 2023 the Federation of Freight Forwarders' Associations in India (FFFAI) welcomed Myanmar International Freight Forwarders Association (MIFFA) at FFFAI Head Quarters in Mumbai and later both the associations signed a MemorandumofUnderstanding(MoU).The MoU was signed by the FFFAI Chairman Mr. Shankar Shinde and MIFFA Chairman Dr. Aye Aye in presence of other Office Bearers/Executive Committee Members of FFFAI and MIFFA. The primary objective of the MoU is to facilitatethebilateraltradebetweenIndiaandMyanmar.

As per the MoU both the associations will record and form the basis of understanding between the Parties to strengthen, promote and develop co-operation between the twoassociationstobenefitMembersandtrade.

Major areas of the activities would include: Trade support /networking; technology exchange; women participation and empowerment; youth promotion; Members support; skill development/training; business opportunities and Infrastructure development towards better connectivity opportunitiesforMembersanyotherareasofcooperation.

“By signing this MoU we have agreed that both the associations will work together in the spirit of joint cooperation and will endeavour to assist each other in relation to matters contemplated under this MoU on best efforts basis for the mutual benefit. Thereby we will support the mission and goals of each of the associations to achieve the beneficial objectives agreed by us for our members,” informedMr.Shinde.

MIFFA delegates who visited the FFFAI Office were Ms. Hla Hla Yee (Secretary General); Ms. Ohn Mar Maw (JointSecretary);Mr.PyeiPhyoAung(Auditor);Ms.YinYin Htay (Executive Committee Member); Ms. Moh Moh (Member); Mr.Tun Tun Linn (Member); Ms. Phyo Thanda (Member); Mr. Kyaw Thet Linn (Member) and Ms. Kyipyar MinTun(Member).

MIFFAI extended an invitation to FFFAI for a visit to Myanmar. The MIFFA delegates also had good interactions withtheFFFAIWomen’sWing. LeadbyMs.ChaitalyMehta

(Convenor) and Mrs. Philomena V. Pereira (Mentor) the FFFAI Women’s Wing would be shortly planning to take an Indian delegation to Myanmar to explore future opportunitiesandbusinessnetworking.

It is pertinent to mention that Myanmar has been one of the largest exporters of pulses and beans to India, while India exports mostly pharma products to Myanmar. Myanmar is strategically located for India as the country shares a land borderofover1643kmswithMyanmaraswellasamaritime boundary in the Bay of Bengal. Four northeastern states Arunachal Pradesh, Nagaland, Manipur and Mizoram have aboundarywithMyanmar.

Currently, the Government of India’s focus is for enhancing India’s cooperation with Myanmar in line with its ‘Act East’ and ‘Neighborhood First’ Policies. It is also pertinent to mention that India shares religious, linguistic and ethnic ties with Myanmar which is the only ASEAN country adjoining India and, therefore, is a gateway to South East Asia.

To resolve the logistics infrastructure and connectivity issues currently India is building USD 484 million Kaladan Multimodal Transit Transport Project, which will connect India's Kolkata Port with Myanmar's Sittwe Port. In addition, multimodal corridors are also being created to promote regional connectivity and development. These projects would further strengthen the bilateral trade between India and Myanmar. Logistics service providers on the other hand are focusing on setting up infrastructure in this region in view of the fact there are huge requirements of proper warehousing, cold storage and other logistics facilities.

FTP-2023 is a way forward to position India as developed country, says FFFAI Chairman Mr. Shankar Shinde

MUMBAI: Congratulating the Ministry of Commerce, Government of India for unveiling the 'Foreign Trade Policy-2023 (FTP-2023)' on March 31, 2023 Mr. Shankar Shinde, Chairman, Federation of Freight Forwarders Associations in India (FFFAI) said that it would build trade confidenceandwouldbeawayforwardfor moving India from developing to developed country. In his opinion, the FTP hasbeenwellarticulatedforExportImport tradeonlongtermgrowthandisprogressiveinnature.

“This will change the mindset of trade to professionalize their business and create strong business foundation through four pillars in terms of recovering in form of remission and not really depend on subsidies, progress with collaboration, cooperation and support ease of doing business It would further create new opportunities covering newuntappedgeographicalareastomeettheexportstarget of2trilliondollarsby2030,”Mr.Shindeobserved.

He also praised that FTP 2023 introduced a digitalization platform to integrate with single window business platform which aims at process re-engineering and automation to facilitate ease of doing business with codified implementation mechanism in online environment to result in system based paperless, faceless, contactless with seamlessprocessesforcreatingtrustbasedenvironment. Moreover,FTPencouragesrecognitionofnewtownsthrough “TownsofExportExcellenceScheme”andexportersthrough “StatusHolderScheme”.Itaimsatbuildingpartnershipswith StategovernmentsandtakingforwardtheDistrictsasExport Hubs (DEH) initiative to promote exports at the district level and accelerate the development of a grassroots trade ecosystem. “This will leverage exports through State infrastructure development, Capacity building with state collaboration,”theFFFAIChairmansaid. CommendingtheGovernment'sinitiativesonstrengtheningthe Export Import trade ecosystem, Mr. Shinde pointed out that the FTP would attract investment creating employment opportunities to achieve export target, including services and merchandise exports of US$ 750 Billion for this Financial Year tocreateIndiaasaGlobalManufacturingexportHub.