Trade and Investment - Introduction


JOINT WORKING GROUP (JWG) ON TRADE AND INVESTMENT


Trade and Investment Joint Working Group (JWG) was established at the first Trilateral Commission Meeting in New Delhi on 5th March 2004. The Working Group comprises of departments dealing with trade and industry from the three countries. The objectives of JWG on Trade and Investment are - increasing intra-IBSA trade, trade facilitation, development of SMMEs and fostering investments. The last meeting of JWG on Trade and Investment was held in New Delhi on 23rd May 2013.

An Action Plan on Trade Facilitation for Standards, Technical Regulations and Conformity Assessment was signed in March 2006. A Memorandum of Understanding on Standards, Trade Facilitation, Technical Regulation and Accreditation was signed in October 2008 by the governments of IBSA countries.

Tourism being a sector with immense possibilities for intra-IBSA cooperation, a Joint Working Group on tourism was set up. As IBSA Dialogue Forum was approaching the second round of Summits, in order to bring sharper focus on sectoral cooperation, a decision was taken in October 2011 to bring Tourism JWG under Trade and Investment Working Group.

The JWG on Tourism aims at expansion of tourism relations among the IBSA countries with a view to understand and appreciate each other's history, culture and way of life. The activities given emphasis under tourism cooperation are exchange of information, development of joint promotional activities, promoting co-operation between the private stakeholders, simplification of travel procedures, human resource development, and the exchange of experts and employees from the tourist areas.



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