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FIEO to set up trade centre in Sharjah

Special Correspondent

CHENNAI: To help Indian exporters, the Federation of Indian Export Organisations (FIEO) will set up an offshore warehousing-cum-logistic hub and trade facilitation centre in the Sharjah Duty Free Zone and the Indian Trade Centre in Romania.

These centres will become operational by July.

FIEO vice-president and southern region chairman A. Sakthivel and secretary-general Tinoo Joshi held an interaction with businessmen here on Wednesday to explain the advantages of using these facilities. They said that as a service provider, the FIEO would promote bilateral trade and has registered a company named ‘Indus Trade Services.’

Later talking to The Hindu, Mr. Sakthivel said: “We have asked for 2,400 square metre of space for the warehousing and logistics hub in Sharjah, and initially we are being offered 400 square metre. Around 35 companies have shown interest. It will help them do trade with Dubai and other neighbouring zones. Later, we may replicate the model in Europe and the United States. We will have a small team of four members to administer the Sharjah office.”

As for the Indian Trade Centre in Romania, Ms. Joshi said the FIEO would act as the implementing agency for improving bilateral trade. The centre is a B2B platform that would showcase Indian products. The opening of the centre was delayed by the renovation work, and “we are planning to get it inaugurated by Union Commerce and Industry Minister Kamal Nath.”

According to her, the centre would serve as a gateway to improving trade with Romania’s neighbours such as Poland, Bulgaria and the Commonwealth of Independent States. It would have a display centre, offshore office, market access hub, permanent contact point for trade and retail and platform for multi-product and services. It would also provide warehousing facility.

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