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I DA U N I V E R S A L M ay -J u n e 2 0 1 9 49 TRENDS AND TIDBITS continued from page 21 e main construction equipment associations for India and Europe announced at an offi cial signing ceremony at Bauma that they will increase bilateral trade and knowledge sharing. A memorandum of under- standing (MOU) signed by the Committee for European Construction Equipment (CECE) and the Indian Construction Equipment Manufacturers Association (ICEMA) formally establishes an agreement to cooperate on regulatory convergence and exchange of statistics and to extend commercial partner- ships between the two regions. Speaking at the signing ceremony, CECE president Enrico Prandini, said, "Both associations represent the construction equipment industry, and 'construction' infers that we are building something. We also represent the demolition industry, which represents the elimination of barriers and obstacles. "We want to build something that will be profi table for both parties. In Europe, we are a mature market, so we think we know everything, but that is not true. Sometimes we need to exchange opinions with new, growing markets to under- stand what the customer wants. We can also help each other standardize rules – because trading rules may benefi t one side more than the other – and exchange data to improve our respective economies. When you know your partner better, you can improve more. "I am quite sure this will be just the fi rst step. Europe is ready to learn, to transfer knowledge and to gain experi- ence from markets that are growing so fast." India has a high annual growth rate of seven percent; however, its construction and mining equipment industry is in double digits, according to iCEMA president, Arvind Garg. Speaking a er Prandini at the Bauma ceremony, Garg said, "I believe this is the fi rst step. A journey of a thousand miles begins with a fi rst step, and this is what's happening today. While government to government discussions may take place on very large matters, in our own small way, we can try and build bridges to see how we can learn from each other. "India is growing. As an association, as well as a country, we believe we have tremendous potential, but anyone who visits will under- stand there is also a need to build infrastructure. "We want to bring in the best practices for the customer. We are not content bringing old technology to our customers. We believe they deserve the best – contemporary equipment, contemporary practices – and we are embarking on a journey to engage our government to bring in rules around emissions, safety and up-skilling of our people. "We already have large European manufacturers with substantial stakes in Indian companies to bring in the latest construction equipment, and I believe this cooperation will mature into a relationship that will be mutually benefi cial for growing our respective members' businesses." European companies already provide 24 percent of construction machinery imports to India, a nation with the second largest population in the world (1.2 billion people), but with over 500 million residents on the European continent. Member of the European Parliament, Jan Zahradil, who attended the ceremony, believes much more trade between the two regions is possible. Zahradli, said, "As vice chairman of the EU's international trade committee, our main role is to help remove trade barriers between European and overseas countries. India is one of the most important partners, however, the poten- tial between the two has not been fully exploited. "India accounts for only two percent of EU trade and only ranks as the ninth trading partner, but the EU is India's fi rst trading partner and its main purveyor for investment. So, I take this opportunity as a very positive example of mutual understanding and cooperation. I would like to congratulate both sides for signing the MOU and wish that others would follow in that same spirit." ● www.ivtinternational.com/4/19 CECE and iCEMA Sign MOU to Extend Bilateral Construction Trade Relations

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