CII Summit to focus on global tie-ups

In fact, InvestHK, a wing of the Government of the Hong Kong Special Administrative Region, is the principal co-sponsor of the summit this year. The department plans to promote Hong Kong as a investment destination.

"The Indian companies can enter into joint ventures with the Chinese companies which will offer two obvious advantages for the former - i) access to the vast Chinese market, and ii) beneficial exposure to the proven efficiency of the Chinese manufacturing environment," a CII official commented.

While China could share their experiences on building a robust manufacturing sector, India could help build the software industry in China, he said.

Tourism, hotel industry, health care and educational services are the other sectors where collaboration would be mutually beneficial, he added.

According to a CII release, the Closer Economic Partnership Arrangement , signed in June 2003 by China and Hong Kong, has opened up access to 18 key service sectors on the Mainland, as well as offering zero tariffs on 273 categories of goods.

The three-day summit will also study investment and collaboration opportunities in US, Singapore, Malaysia, South Africa, UAE, Oman, Kuwait, Bahrain, Saudi Arabia and Quatar among others.

A special session on the Arab World will address issues such as the recent initiatives with regard to strengthening of India-Israel cooperation and whether this would affect the existing relationship, particularly economic, with the countries in the Gulf and West Asia.