IIFT Signs MoU with APEC Port Training Center to Strengthen Trade and Logistics Education
In recognizing the profound ties between India and Belgium over decades, the Indian Institute of Foreign Trade (IIFT) has announced a significant milestone with its establishment of a Memorandum of Understanding (MoU) with the APEC – Antwerp/Flanders Port Training Center. This collaboration is expected to strengthen trade and logistics education, offering students practical exposure to global supply chain mechanisms and insights into international trade practices.
Key Highlights:
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Significance of the MoU:
The MoU aims to enhance cooperation in trade, logistics, and supply chain management through joint research on port operations, global logistics mechanisms, and trade facilitation. It includes specialized training programs like workshops, industry interactions, e-governance, digital trade initiatives, and more. -
Minister’s Comment:
Shri Jitin Prasada emphasized that India and Belgium share strong trade ties since decades, underscoring the significance of this MoU in building a robust network for future business leaders. He highlighted how this partnership will equip students with practical knowledge in supply chain efficiencies, customs regulations, and global trade operations. -
Strategic Role of the Port of Antwerp:
The collaboration underscores the port’s strategic position as a gateway for European economic connectivity. This positioning is expected to enhance IIFT’s offerings by providing students hands-on learning opportunities through practical training programs. -
Role of IIFT as a Key Institution:
As a key institution in foreign trade research and education, IIFT will provide curriculum development focused on maritime and trade sectors. Its current program offering port visits enriches students’ understanding of supply chain efficiencies and global trade practices. -
Ongoing Relationship:
The Port of Antwerp and IIFT have a long-standing partnership, with 206 students from the institute currently visiting the port for educational opportunities. This ongoing relationship is seen as crucial for capacity building in international trade.
Conclusion:
This MoU represents a successful collaboration that strengthens India’s international trade ecosystem by enhancing both education and industry practices. It aligns with India’s goal of becoming a competitive player in global trade through IIFT’s initiatives. The significance lies not only in strengthening trade and logistics but also in offering practical knowledge to future leaders, making it a pivotal step forward for the Indian economy and its institutions.