MVIRDC WTC Mumbai has signed a Memorandum of Understanding (MoU) with Vietnam’s WTC Binh Duong New City and China’s WTC Shenyang at the Asia Pacific Regional Meeting in Vietnam. The objective of the MoU is to set a framework for collaboration among the signatory WTCs to promote trade, investment, technology exchange, and joint ventures among their business members.

The MoU was signed at the World Trade Centres Association’s (WTCA) Asia Pacific Regional Meeting (APRM) held in Vietnam’s southern province of Binh Duong, which is emerging as a world-class industrial smart city.

Former Chief Secretary of Maharashtra Mr. Sharad Upasani, who is also the Vice Chairman of MVIRDC WTC Mumbai and Chairman, WTC Goa participated at the Asia Pacific Regional Meeting and shared information about the various skill development and trade promotion initiatives of WTC Mumbai.

WTC Mumbai has launched Center of Excellence to impart professional and vocational skills among economically weaker sections of society, women entrepreneurs, besides providing business acceleration support to MSMEs and startups. WTC Mumbai also promotes trade through trade education programs and initiating various research activities in the areas of foreign trade and regional trade agreements. The multi-dimensional WTC Mumbai also supports trade through world-class trade facilities and exchange of trade missions with overseas trade support institutions.

Among other things, the MoU envisions collaboration among these three WTCs – WTC Mumbai, WTC Binh Duong and WTC Shenyang - in areas such as skill development, incubation, and acceleration support for MSMEs, women entrepreneurs, and start-ups.

Speaking on the importance of this MoU, Dr. Vijay Kalantri, Chairman of MVIRDC WTC Mumbai, remarked, “In this age of rapid technological progress, our alliance will strive to enhance the global competitiveness of our business members through the exchange of best practices in skill development, technology exchange and trade facilitation through e-commerce.”

“This MoU will also pave the way for the exchange of best business practices in sustainability, low-carbon, zero-waste, circular economy manufacturing processes and other emerging areas,” Dr. Kalantri added.

WTCA is the global network of World Trade Centers (WTCs), which are independently operated entities located in various cities around the world. These centers promote international trade and business development by providing various services and facilities to companies, organizations, and individuals engaged in global trade.

WTC Shenyang is located in the northeast Liaoning province of China. Besides its cultural and historical significance, Liaoning province is also a regional hub for the metal, machinery, and chemical industries in China. Shenyang serves as the capital and largest city in the province.