South Asian Automobile Forum to expand Trade in the Region

South Asian Automobile Forum to expand Trade in the Region

Mumbai, 21th February 2024: The Society of Indian Automobile Manufacturers (SIAM) along with the Bangladesh Automobiles Assemblers and Manufacturers Association (BAAMA), the Ceylon Motor Traders’ Association, Sri Lanka (CMTA) and the NADA Automobiles Association of Nepal (NADA), recently formed a South Asian Automobile Forum at the sidelines of Bharat Global Mobility Expo in February 2024. This forum aims to promote collaboration and cooperation among automobile sector in the South Asian region. It will serve as a platform for members of the associations to regularly engage in dialogues, share best practices, and work together towards common goals for the advancement of the automotive industry in the region.

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On the establishment of this forum, Mr. Vinod Aggarwal, SIAM President and Managing Director & CEO of VE Commercial Vehicles Ltd (VECV), said, “The automobile sector plays a significant role in the economic development of South Asian countries, and there is great potential for synergies and mutual growth with closer collaboration in this sector. Creation of this forum will further strengthen the ongoing cooperation amongst the Automobile industry of Bangladesh, Nepal, Sri Lanka and India.”

Mr Rakesh Sharma, Chairman of SIAM Exports Group and Executive Director, Bajaj Auto added, “The forum will provide a valuable opportunity for members of each of the associations to address shared challenges and explore opportunities for collective growth, while promoting adoption of best practices and responsible advancement of the automobile sector in the South Asian Region.”

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