India’s role as our closest partner is not only a pillar of support but also an inspiration: Bhutan’s Commerce Minister

Lauding India’s role as a “closest partner,” Bhutan’s Minister of Industry, Commerce, and Employment, Lyonpo Namgyal Dorji, praised New Delhi as a pillar of support and inspiration for Thimphu. He said that the trust and shared values between the two nations make India an enabler of Bhutan’s aspirations.

Speaking at the inaugural session of the 29th Confederation of Indian Industry (CII) Partnership Summit 2024 in Delhi on Monday, Dorji said, “India’s role as Bhutan’s closest partner is not only a pillar of support but also an inspiration. The trust, collaboration and shared values between our two countries making India an enabler of Bhutan’s aspirations. Beyond herself, India enables opportunities, facilitates connections and engagements for us. It is this spirit of collaboration and mutual growth that excites the two countries.”

Dorji described the CII Partnership Summit as an “example of India’s leadership, its commitment to fostering innovation, inclusivity, and shared prosperity across Asia and the larger world.” He also highlighted how, under Prime Minister Narendra Modi, India has emerged as a global leader for nations like Bhutan.

“Under the leadership of Prime Minister Modi, India has emerged as a global leader for countries like Bhutan. India stands not only as a trusted neighbour but also as a partner in our journey of growth and transformation, offering both inspiration and…support as we pursue our aspirations,” he said.

“Leveraging this partnership, Bhutan has embarked on a transformative care strategic plan to evolve into a high income, Gross National Happiness, economic central Environment Initiative,” he added.

Encouraging investors to explore opportunities in Bhutan, Dorji said, “My pitch here is this for investors thriving in India or seeking opportunities in the region, the futuristic city project at Bhutan offers unparalleled potential. We invite you to visit Bhutan and explore the possibility opportunity to partner in an initiative that seamlessly aligns profitability with purpose creating an economical design to connect high-value industries.”

The 29th CII Partnership Summit brought together 61 participating countries, 30 global speakers, and 11 international ministers. The summit aims to foster productive partnerships and global cooperation, ensuring a shared vision for a sustainable and prosperous future.

Qatar’s Minister of State of Foreign Trade, Ahmed Mohammed Al Sayed, emphasized his country’s strong economic diversification strategy during the summit. “Qatar has positioned itself as a strong avenue for economic diversification with our development strategy with metro and highway projects with industries. Logistics, IT and digital transformation in public and private sectors are our focus,” he said.

He noted Qatar’s “strong partnership” with India and recalled Prime Minister Narendra Modi’s visit to Qatar in February this year. “This visit highlights the importance of our bilateral relations and led the a deeper cooperation,” he said.

Al Sayed said that the trade volume between Qatar and India exceeded USD 14 billion in 2023, making India Qatar’s second-largest trading partner. He called Qatar an “attractive destination for global and regional investors, offering annual opportunity for growth in collaboration.”

“The partnership between Qatar and India represents long-term strategic allies that we are committed to advancing and strengthening together, our unique position allows us to energize our collaboration and achieve significant progress in the near future. Together, we can unlock even greater potential driving innovation, trade and investment for the benefit of our people,” he said.

Myanmar’s Deputy Minister of Commerce, Minn Minn, stressed that India and Myanmar have complementary strengths as the latter has rich agricultural assets and the former has technological innovation and manufacturing expertise.

Speaking at the summit, Minn Minn said, “As neighbouring countries and key trading partners, we stand as a testament to the power of strategic partnerships in advancing regional stability and mutual growth. Our economies possess complementary strengths; Myanmar with its rich agricultural assets and India with its technological innovation and manufacturing expertise. By fostering cooperation in these sectors, we can generate substantial economic benefits for our people.”

He expressed gratitude to India for its technical assistance and Capacity Building Initiative, which has significantly boosted Myanmar’s trade development agenda and improved its capabilities of institution and workforce.

He also acknowledged that economic progress cannot occur in isolation.

“As an active member of ASEAN, we continue to prioritize initiatives such as the master plan of the ASEAN Economic Community ASEAN collectivity, which aims to force trade investment and infrastructure development,” he said.

He stressed the importance of diversifying partnerships, exploring untapped opportunities for collaboration, and addressing challenges, including trade barriers and supply chain issues.