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Working Group of Trade & Investment

At the Second Biennial Council of Ministers meeting, held inMaputo,Mozambiquein March 1999, the IOR-ARC Ministers agreed to a realistic, outcomes focused, Trade and Investment agenda based on Trade Facilitation, Trade Liberalization, and Economic and Technical Co-operation.

In order to proceed with this agenda, the Ministers adopted a resolution for the establishment of a Working Group on Trade and Investment (WGTI).  The inaugural meeting of the WGTI took place in Sultanate of Oman in January 2000.

OBJECTIVES:

The main objectives of WGTI are to:-

• Promote the welfare of the people of participating Member States through carefully-designed programmes to improve their standards of living and quality of life;
• Promote the sustained growth and balanced development of the region and of the Member States;
• Formulate and implement programmes for Economic Cooperation including inter alia, expansion of Trade, Tourism, Direct Investment Scientific and Technological Exchanges, and Human Resource Development;
• Reduce impediments and lower barriers towards freer and enhanced flow of Goods, Services, Investment and Technology within the region;
• Encourage close interaction of Trade and Industry, Academic Institution, Scholars and that resident in Member States.

Like other working groups, the WGTI may meet alongside with the COM and CSO, or as often as mutually decided.