Delegates from over 35 countries are expected to participate in the diplomatic outreach event being organised by the Andhra Pradesh government here on Friday in an attempt to attract foreign investment in the state.
The delegates from various countries including Korea, Britain, the US, Japan and Australia are expected to explore the potential trade relations in mutual interest, officials said.
The outreach programme being organised in collaboration with the Department of External Affairs is aimed at exploring opportunities for collaboration in core areas like pharma, automobile, steel, textiles food processing and electronics.
The state will showcase industrial policies and investment opportunities in Andhra Pradesh and potential areas of partnerships with the participating countries.
This is the first such event being hosted by the state after the new government led by Chief Minister Y.S. Jagan Mohan Reddy assumed office in May.
The Chief Minister is likely to have a one-on-one meeting with delegates of select countries.
According to Chief Minister’s Office, the interactions will establish a first level connection between the state and the visiting diplomats. The connection will be leveraged to identify trade synergies and technology transfer programs that will further strengthen the ties between the state and the partnering country.
The state would take the initiative further and plans to invite countries to set up their chambers of commerce to facilitate strong trade relations.
The state also plans to set up investment promotion offices and investor desks in business centres across major Indian cities like Bengaluru, Chennai, Delhi, Mumbai besides Tokyo, Seoul and other select foreign capitals to enable regular interaction with top investors across sectors.
Wherever offices cannot be set up directly, the state will partner with industry bodies like Confederation of Indian Industry and Federation of Indian Chambers of Commerce and Industry which have presence in those countries in order to reach out to investors.
