MoU Signed Between Ministry of MSME And SBA, Government of USA

Ministry of Micro, Small and Medium Enterprises, MSME has signed a Memorandum of Understanding, MoU with the Small Business Administration (SBA) of the Government of the United States of America to promote Cooperation on Small and Medium-size Enterprises (SMEs).

MoU signed

The MoU was signed between Secretary, Ministry of MSME  S. C. L Das and Administrator, SBA, Government of the United States of America, Isabel Casillas Guzman in New Delhi on August 13.

Benefits of this MoU

The MoU provides a framework for both sides to discuss issues concerning micro, small and medium enterprises (MSMEs) and explore possibilities of cooperation. It envisages the exchange of expertise between the two sides on issues related to improving MSME participation in the global marketplace through mutual visits as well as webinars and workshops on topics including access to trade and export finance; technology and digital trade; green economy; and trade facilitation.

Importance of this MoU

It provides for the joint conduct of programmes for women entrepreneurs to empower them and facilitate trade partnership between women-owned small businesses of the two countries. Recognizing the crucial role that MSMEs play in advancing inclusive growth, expanding exports, and boosting employment, the two sides also agreed to explore the development of a “Business Matching Digital Platform” to boost business opportunities.