statesman news service
NEW DELHI, 29 JUNE: Business cooperation between India and Spain will receive a shot in the arm with the signing of two memoranda of understanding, one between the Federation of Indian Chambers of Commerce and Industry (Ficci) and Confederation of Employers and Industries of Spain (CEOE) and the other between Ficci and Confederation of Aragoneese Employers (CREA).
The MoUs are billed as cornerstones for the beginning of new economic linkages to help the Spanish economy recover from the spell of recession and aid the Indian economy to re-emerge out of its current phase of slow growth and low investment, according to a Ficci statement issued here today. CEOE is the umbrella organisation of Spain for more than 225 industrial, regional and metropolitan associations representing employers. CREA is an employers’ organisation located in the autonomous community of Aragon, Spain, representing more than 40,000 enterprises.
According to the terms of the MoUs, the two organisations shall activate the arrangement which would be independent and self-sustaining organisationally and financially.