India and Latin American and Caribbean (LAC) countries should look to increase bilateral cooperation for poverty eradication and promote collaboration in areas such as education, External Affairs Minister Salman Khurshid said.
Delivering the keynote address at the valedictory session of the Confederation of Indian Industry (CII) India-Latin America and Caribbean conclave here Tuesday, he said India and the LAC countries can promote collaborations in areas such as schooling and vocational education. Khurshid called for improvement in consular services and issuance of visas on both sides as it will facilitate business partnerships and people-to-people contacts.
Noting India-LAC bilateral trade and investment flows have increased several fold in the past 10 years but the true potential of bilateral economic exchanges have not been realised yet, Khurshid called for closer cooperation between small and medium enterprises (SMEs) in India and this region. Nicaraguan Foreign Affairs Minister Samuel Santos noted India and the LAC countries have many common socio-economic challenges, and a better understanding of each other's capabilities will help both regions to tackle their emerging developmental challenges more effectively.
He urged Indian companies to fully leverage compelling investment opportunities that were being created in different LAC countries. Triveni Group CMD Dhruv Sawhney said India and the LAC countries could look to exchange technologies and expertise to address food and energy security challenges.
The conclave saw participation of over 300 delegates from India and the LAC countries and projects worth $35 billion were put on offer, according to a CII release. The next edition of the conclave will be held in New Delhi in September 2014.