Indo-American Chamber of Commerce has signed a memorandum of understanding with US-based National US India Chamber of Commerce, (NUICC). The memorandum was signed by was signed by Mr. Asoke Laha from IACC and Ms. Purnima Voria of NUICC. NUICC is recognized as one of the top international business organizations that promotes bilateral trade between United States and India.
Through the memorandum, IACC and NUICC have mutually agreed to develop strong institutional, trade and business relations in order to establish a sustainable mechanism of dialogue and platform for discussion. They have also agreed to exchange information on general economic status, taxation, investment opportunities, trade policies, legislative changes, foreign trade and investment policies of their respective countries in order to strengthen trade, technological and industrial cooperation between USA and India. Under the MOU they can utilize each others' office and secretariat facilities both in India and USA.
They have also agreed to assist each other in organizing/participating in international fairs, exhibitions and trade promotions events. IACC and NUICC have decided to cooperate with each other on all programmes of trade promotions and commercialization and to hold regular meetings to facilitate exchange of views to review the provisions and operation of this memorandum including implementation of the MOU in the light of experience and to consult modifications and development to cover specific issues, as deemed appropriate.
The MOU is another step for the IACC towards expanding and enhancing Indo-US commercial ties. According to Mr Laha, "This MOU is in line with our vision statement in which the IACC has resolved to build on the dialogue established between US President Barack Obama and Prime Minister Narendra Modi by taking commercial ties to the next level of small and medium enterprises in both countries."