Commerce Secretary advocates innovative approach to diversify exports, calls for greater collaboration between India and Latin American & Caribbean countries

During the closing ceremony of the ‘9th India-LAC CII Conclave’ focusing on enhancing South-South cooperation, Shri Sunil Barthwal, Secretary, Department of Commerce, Ministry of Commerce and Industry, highlighted the immense potential for the expansion of bilateral trade between India and Latin American and Caribbean (LAC) countries.

He underlined the need for innovative approaches to diversify trade, especially in the context of a reglobalized world and changing energy landscapes. He highlighted the role of the G20, particularly under the Indian presidency, in addressing the concerns of the Global South and deeper engagements with the LAC region during Brazil’s G20 Presidency in 2024.

Shri Barthwal underlined the importance of India-LAC collaboration in achieving energy transition goals. He called for new perspectives in renewable energy, battery manufacturing, energy storage technology and the chemical industry to align with the Net Zero goal.

Proposing a collaborative framework, Shri Barthwal suggested a model of joint economic and trade cooperation and stressed the importance of unified efforts in addressing issues in international forums. He reiterated remarks by Union Minister for Trade and Industry, Consumers, Food and Public Distribution and Textiles, Shri Piyush Goyal that ‘trust is the foundation of cooperation and collaboration between Indian countries , Latin American and Caribbean”.

The closing ceremony of the “9th CII India-LAC Conclave” was honored by the Minister of State of the Union for Foreign Affairs, Ms. Meenakshi Lekhi and HE Ms. Delcy Eloína Rodríguez Gómez, Executive Vice President and Minister of Popular Power for the Economy and Finance & Foreign Trade of the Bolivarian Republic of Venezuela.

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