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Ficci to set up shop in Beijing

BS Corporate Bureau

The Federation of Indian Chambers of Commerce and Industry is setting up an office in Beijing with the aim of improving business relations between the two nations, post China's entry into the WTO.

The chamber has also set up a China desk to support and assist Indian companies setting up base in China. In order to explore synergies in different industrial sectors, especially pharmaceuticals, chemicals, computer hardware and education, electronics and telecom, Ficci has formed six task forces with its Chinese counterpart, the China Council for the Promotion of International Trade.

R S Lodha, president of Ficci, said with China joining the WTO, the time was ripe to further business interactions. "We are opening our office in Beijing to facilitate this interface. While the interests of the existing Indian companies in China will grow, we expect more Chinese investments in India as well."

So far this was not happening because there was little interface. A new environment was created after Chinese Premier Zhu Rongji's visit to India resulted in Indian businesses trying to demystify China.

Lodha said it was obvious from Zhu's visit the Chinese were looking for a broader business relationship with India, and it was essential that the two countries co-operated with each other to further their goals.

Ficci, which already has a fast-track memorandum of understanding with CCPIT, is also taking a high-powered business delegation to China in May. This delegation will visit the special economic zone at Pudong, attend the annual Asian Development Bank conference and a corporate retreat at Shuzau.

At the retreat, the visiting CEOs will not only to meet their Chinese counterparts, but will witness presentations on Chinese business by international consultants.

Aiming at second-track diplomacy for WTO negotiations, the Ficci delegation will also visit Shanghai. "The delegation's visit to Shanghai is important in the wake of a meeting at the WTO Consultation Centre because India's role at Doha has already been acknowledged by the Chinese Premier during his visit to our country," Lodha said.

Lodha said he was also visiting China this week to take part in Boao Forum for the Asia 2002 annual conference, beginning April 11. BFA is a non-governmental, non-profit international organisation aimed at strengthening economic exchange and co-operation in the Asian region.

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