New Delhi handicrafts fair set for Mar 15-19
New Delhi handicrafts fair set for Mar 15-19
The commerce ministry on December 30 issued a general invitation for people and local enterprises to showcase products or services and seek business partners from around the globe at the 55th edition of the Indian Handicrafts and Gifts Fair (IHGF) to be held at the India Expo Centre and Mart in New Delhi from March 15-19.
“The 55th IHGF will not only act as a platform where buyers from across the globe come and place orders, but also be considered as an opportunit[y] for exhibitors – both big and small – [to] meet with buyers [over] handicrafts,” the ministry said.
Ministry spokesman Penn Sovicheat recommended local producers, investors and service providers to attend the fair, claiming that the time is right to reach out and connect with businesses the world over.
The event offers “a great opportunity for direct dialogue and seeking [business] cooperation or partnerships” and to “showcase products or services to all the investors”, he said.
Cambodia and India have begun preliminary talks on a possible bilateral free trade agreement (FTA) to boost mutual trade and investment.
An FTA is an international treaty between two or more economies designed to reduce or eliminate certain barriers to imports and exports among them, generally while safeguarding safety, security, health and other legitimate regulatory objectives. Such a pact can also serve to facilitate and promote greater economic ties among signatories in areas such as investment and intellectual property protection.
According to Trading Economics, in 2021, Cambodian imports from and exports to India respectively totalled $185.17 million and $126.07 million, up 43.1 per cent and 103 per cent compared to the $129.41 million and $62.24 million recorded a year earlier.
These figures indicate that the Kingdom’s trade deficit with India narrowed by 12 per cent from $67.2 million in 2020 to $59.1 million in 2021.
