Govt’s lays focus on ASEAN nations to attract investment

By Our Reporter
SHILLONG, March 28: The Meghalaya government is actively engaging with investors, business partners and countries to attract investment and facilitate bilateral trade, with a particular focus on ASEAN nations due to their proximity to the state.
Government sources, pleased with the outcome of the 7th Act East Business Show, on Friday stated that the initiative aimed to connect with investors for future investment summits and economic initiatives in Meghalaya.
Beyond bilateral trade, the programme has also strengthened cultural ties and increased interest in Meghalaya’s local products, helping them gain a wider market.
To expand its outreach, the government has partnered with the Indian Chamber of Commerce (ICC), which has a nationwide presence. Through this collaboration, Meghalaya is engaging with business communities and investors across India and internationally.
Referring to partnerships with Japan and Germany, from which Meghalaya is receiving funding through JICA, ADB, and GIZ, sources noted that such initiatives will also contribute to an increase in tourism.
Several neighbouring countries, including Nepal, Bhutan, and Bangladesh, sent large delegations, leading to renewed and strengthened bilateral ties for border trade, exports, and imports.
Regarding trade relations with ASEAN countries, certain tariff barriers (taxes or duties imposed on imported goods) remain a challenge. Since some goods fall under both positive and negative lists, the Meghalaya government has reached out to these nations, advocating for either lowering or removing tariff barriers to enhance trade opportunities.