17 November 2009
Jersey’s Treasury Minister, Senator Philip Ozouf, is on a week-long trip to India as part of the ongoing work to build political and commercial links with Asia’s strongest emerging markets.
The Senator, who is leading a 20-strong Jersey delegation, started with a briefing for the Deputy High Commission in Mumbai. The schedule for the 5-day trip also includes keynote addresses to invited audiences in Mumbai and Delhi, meetings with leading Indian organisations, visits to companies who have established financial ties with Jersey and interviews with Indian national media.
Speaking from Mumbai, Senator Ozouf, stressed the importance of this visit for Jersey’s future prosperity. He said "India is one of the great nations of the world with a dynamic population of more than 1.1 billion people and significant economic growth potential in the future.
"We have already started to build relationships so that Jersey is well placed to take advantage of commercial opportunities in years to come. This is a gradual process and we still have work to do to explain exactly what the Island can offer. The stability of our government system is an important factor that Asian governments will take into consideration."
Senator Ozouf last led a trade delegation to India in February 2008 and was due to visit Infrasoft, one of the firms he made contact with last year.
Jersey already has strong trade links with a number of Indian companies that are investing in the Island. Jersey companies are providing financial services to the growing number of Indian companies seeking to expand into Europe.
The India trip follows a successful visit to Jersey earlier this month by a delegation from the People’s Republic of China, including the Ambassador, Her Excellency Madam Fu Ying, to enhance economic, trade and cultural links with the Island. Jersey Finance recently opened an office in Hong Kong to help promote the Island’s financial services in the Asia Pacific region.
Senator Ozouf added "There is great potential for Jersey to develop its links with these two emerging markets, especially following the recent positive reports from the IMF and the UK Treasury. Jersey is well placed to increase the flow of good quality business from these newer markets, and this will reduce reliance on our traditional markets of Europe and the US."
gov.je