Commerce Secretary Rita Teaotia to lead delegation to LatAm countries this month

NEW DELHI: Aiming to boost India's economic and trade engagement with Latin American nations, Commerce Secretary Rita Teaotia is leading a delegation to Ecuador and Colombia from May 15-20.

In Ecuador, Teaotia along with other senior government officials, will attend the first meeting of the Joint Economic and Trade Committee (JETCO).

The protocol for establishment of the India-Ecuador JETCO was signed in October 2015 in New Delhi with the aim of further improving and strengthening the bilateral trade relationship between the two countries.

The delegation comprises senior officials from leading Indian companies from sectors such as pharma, Ayurveda, textile, IT, automobiles, agro-chemicals, railways, telecom etc.

The delegation will also participate in an interaction at the JETCO meeting scheduled on May 17 in Guayaquil, Ecuador whereas industry representatives will share a summary of their deliberations held at the seminar on 'India-Ecuador Business Forum' on May 16 at the JETCO meeting.

"In the tour's second leg, the delegation accompanying the Commerce Secretary, will arrive in Colombia on May 17 and participate in the Joint Working Group and Joint Meeting of Business Development Cooperation spread over two days," said industry body Ficci, which is coordinating the visit.

Colombia has seen huge investments from Indian companies in recent years and is a gateway to other Pacific Alliance grouping markets consisting of Mexico, Chile and Peru.

The Pacific Alliance contributes almost half of Latin American trade and a third of the region's GDP.