IORA signed MoU for cooperation in SME sector

Union Minister of Micro Small and Medium Enterprises (MSME), Shri Kalraj Mishra inaugurated a Workshop on MSME Cooperation amongst Indian Ocean Rim Association (IORA) Member countries in New Delhi.The Ministry of MSME finalised the MoU on MSME Cooperation with Indian Ocean Rim Association (IORA) member countries.This finalized MoU will be signed at an appropriate forum soon. Indian Ocean Rim Association (IORA) member-states have finalised Memorandum of Understandings (MoUs) for cooperation in small and medium-sized enterprises (SME) sector.The MoU will come into effect after 5 countries signs it.

1.Finalise linkages and alliances amongst MSMEs organizations, associations and various institutions engaged in 2.MSME development in IORA countries.
3.Exchange best practices, programs and policies for MSME development.
4.Exchange greater involvement of MSMEs in the global supply chain and increase their market access.
5.Promote women and youth’s economic empowerment.
6.Encourage synergies with the IORA forum.

The Indian Ocean Rim Association (IORA), formerly known as the Indian Ocean Rim Initiative and Indian Ocean Rim Association for Regional Cooperation (IOR-ARC), is an international organisation consisting of coastal states bordering the Indian Ocean. The IORA is a regional forum, tripartite in nature, bringing together representatives of Government, Business and Academia, for promoting co-operation and closer interaction among them. It is based on the principles of Open Regionalism for strengthening Economic Cooperation particularly on Trade Facilitation and Investment, Promotion as well as Social Development of the region. The Coordinating Secretariat of IORA is located at Ebene, Mauritius.

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