By Dominick Rodrigues
Mumbai : The Principality of Monaco successfully organized a “Virtual” Trade Mission to Delhi recently as part of its long history of friendship and cooperation with India, which moved up a gear in 2019 after an Official Visit by HSH the Sovereign Prince Albert II to India.
The Monaco Economic Board (MEB), as the government’s operational arm for business policy, held the “virtual” Trade Mission comprising a 30-strong delegation of key players in the Monegasque economy and signed two cooperation agreements with counterparts in the Indo-French Chamber of Commerce and Industry (IFCCI) and the Federation of Indian Chambers of Commerce and Industry (FICCI).
The E-Mission was organised under the aegis of the Monaco Embassy in India, in partnership with the Indian Embassy in France and Monaco, the Indo-French Chamber of Commerce & Industry, and the Promotion Bureau of the Principality of Monaco in New Delhi.
Besides bilateral presentations on both countries’ economies, besides sector-specific focus on finance, innovation, renewable energy, trade and raw materials, presented by Indian experts to Monaco companies, the event witnessed the MEB interacting directly with Indian professionals working at: Crédit Agricole Corporate & Investment Bank, Link Innovation, Total India and TATA Steel Mining, and targeted pre-arranged individual B2B meetings online between Monegasque and Indian companies.
The Monaco Principality highlighted its potential and appeal as a place in which to do business, as evidenced by average GDP growth of 5% in the last six years, with the exception of 2020. Its impressive economic performance rests on the many talented people it attracts with 140 nationalities residing on the 2km-square territory, and the broad range of sectors underpinning healthy revenues, besides finance and tourism, which automatically spring to mind, construction, real estate, trade and ICT as strong economic drivers.
Independent of the European Union, yet part of the Euro Zone, Monaco has no debts and enjoys an envious level of institutional and economic stability. The Principality is easy to get to thanks mainly to its proximity to France’s second largest airport in Nice just 30 km away. Surrounded by mountains on the Mediterranean coast, Monaco is also a peaceful country where people and property are safe and secure.
Against the current health crisis, the Principality has been able to adapt quickly to implement necessary measures and is proving more resilient than its neighbours. Above all, Monaco is looking to the future having put in place an ambitious recovery plan with emphasis at the Sovereign’s instigation on two transitions: digital and clean energy, a release stated.
