On February 9, 2021, ‘India Tunisia Business Council’ (ITBC) was launched for boosting the trade relations between the two countries. The main objective of the ITBC will be to focus on development in both countries.
i.The Bilateral Trade between India and Tunisia was USD 376 Billion in 2019-20
- Indian Exports to Tunisia during the same period were USD 245 Million
- India’s Imports from Tunisia were USD 231 Million during the same period.
Background:
A Memorandum of Understanding (MoU) for launching ITBC was signed between ‘Tunisia India Business Council’ (TABC) & ‘Indian Economic Trade Organization’ (IETO) by Dr.Asif Iqbal, President of IETO & Anis Jaziri, President of TABC which took place during the India Tunisia Economic Forum 2020 held virtually on December 22, 2020.
India Tunisia Economic Forum 2020:
The discussions during the forum were chaired by Mohit Srivastava, Director of IETO.
- It was organized by IETO with the support of Indian Africa Trade Council.
- Theme of the Dialogue – ‘India Tunisia-Promoting Equitable Growth’
- Participants – Officials from the Ministry of External Affairs, Government of India, Foreign Ministry of Tunisia, Indian Ambassador to Tunisia, Indian and Tunisian business owners and Industrialists.
Key Points:
- Both sides highlighted the importance of ‘Tunisia India Centre for Innovation in ICT’ in Tunis, Capital of Tunisia.
- They also highlighted the Steel Plant which is being established in Tunisia.
- The two sides stated that they can boost trade in areas of Agriculture, Olive Oil, Dates & Pharmaceuticals
- For the First Time in History, India and Tunisia will be sitting together in the UN Security Council in 2021.
Recent Related News:
i.On July 28, 2020, Tunisian President Kais Saied appointed Hichem Mechichi, Interior Minister as its new Prime minister.
About Tunisia:
Capital – Tunis
Currency – Tunisian Dinar (TND)
President – Kais Saied
About Indian Economic Trade Organization (IETO):
President – Asif Iqbal
Headquarters – Bengaluru, Karnataka
