The COMESA Business Council (CBC) signed a Memorandum of Understanding (MoU) with the International Chamber of Commerce (ICC) to strengthen business partnerships for its members in regional and international markets. The event took place during the ICC/World Chambers Federation Action Network Meeting on 9 November 2020.
Over 70 business leaders representing business associations from Africa and the rest of the world including CBC Board Directors and ICC Members attended the event.
CBC Chairperson Mr. Marday Venkatasamy described the new partnership as timely for both organisations due to the impact of COVID-19 which has necessitated a change in trade dynamics and brought about the need for greater reliance on business and private sector led-growth.
“Through this MoU, CBC becomes the partner through which we can strengthen the participation of African businesses in multilateral negotiations related to trade, investment and sustainable development,” Mr. Venkatasamy added.
ICC Secretary General Mr. John Denton said the two organisations have several similarities in their objectives and it was pleasing that they were joining forces for the common endeavor to improve the lives and livelihoods of all those who live in Africa.
“The fact that we are now able to come together to work for the advancement of the interests of business in Africa is a fantastic opportunity. We will not let you down,” Mr. Denton said.
With the signing of the MoU, the parties will develop an implementation plan on facilitating business partnerships and increasing inter-regional trade, advocacy and strengthening African business participation in multilateral policy, business facilitation measures to advance sustainable development Goals. Furthermore, the MoU will address key emerging issues for business such as digital trade facilitation, SMEs sustainability and other strategies to facilitate movement of goods and services particularly within the COVID-19 pandemic period.
The ICC represents more than 45 million companies in over 100 countries.
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