INTERVIEW
AFRICA IS ON THE CUSP OF
TREMENDOUS CHANGE
Dr. GD Singh, Chairman, Asian-African
Chamber of Commerce & Industry
discusses the business climate for
foreign investors in Africa, the sectors
that are most ripe for development,
chamber’s achievements towards
enhancing economic ties between Asia
and Africa and its activities in terms
of establishing relationships with
external organizations.
Q
What led to the decision to establish the Asian-African
Wha
Chamber
Cha
ha
of Commerce & Industry? How did you fi rst
become involved with it?
bec
beco
The mission actually started in the year 2015 during my
T
visit to Lagos when I was holding the charge of President
of CIHF (Confederation of Indian Healthcare Foundation)
where I met the High Prince of Nigeria, Leye Babalola, Past
President and Present Patron of the Institute of Company and
Commercial Accountants of Nigeria (ICCA). We discussed
the Asian & African Economy emphasizing the fact that the
Asian economy had been stabilised and doing pretty well as
compared to the African region. But there is no association
or chamber or body which has actually taken an initiative to
oversee the experience that has enabled the Asian countries
to achieve growth in leaps and bounds, knowledge of which
could have benefi ted the African region.
The High Prince and I had a further meeting with the
presidents/representatives of various Commerce Chambers
and professionals of high repute from the entire Asian-African
region and debated on the subject. We concluded with a
decision to form the Asian-African Chamber of Commerce
& Industry (AACCI) with a view to giving the business
community of both regions a voice and a tool to foster
development and realize the UN Sustainable Development
Goals 2030 and to strengthen the trade relationship between
both continents. AACCI was set to transform this vision into
reality. The founding members of AACCI set out to create
transnational corporations, which would have a presence in
all associated member countries and whose capital would be
built by nationals of all 102 prospective member countries.
The AACCI logo also depicts the Asian economy which
has grown and become stronger and should support the
African economy and ensure that the African region also
grows.
Q
Pleas
Please
as introduce AACCI’s major achievements and
contr
contributions
ntr
towards enhancing economic ties between
Asia and Africa.
AA
AACCI has signed MoU with various Chambers of
Commerce and bodies in Asia and Africa to strengthen
business relations and to establish a practical framework
to facilitate the development of stronger business relations
between the Asian & African regions.AACCI had organised
activities for MSMEs and their impact in the Economic
Development of Africa. Various developments in the
healthcare sector have taken place to enhance the quality and
recognize the leaders in the healthcare and pharma sector
from both Asian and African regions. AACCI also organised
an award program to recognise and honour business leaders
60 • Extraordinary and Plenipotentiary Diplomatist • Vol 7 • Issue 4 • April-May 2019, Noida