(MENAFN- KNN India) New Delhi, Aug 21 (KNN) Mitsui O.S.K. Lines (MOL), Suzuki Motor Corporation, and TradeWaltz Inc. have signed a Memorandum of Understanding (MoU) to strengthen automobile trade between India and Africa.

The agreement was announced during the 9th Tokyo International Conference on African Development (TICAD 9) held in Yokohama, Japan.

The partnership aims to create a more efficient and sustainable supply chain for vehicles moving between India and African markets. It focuses on two major goals: digitalising trade operations and promoting decarbonisation in shipping and logistics.

Currently, cross-border trade still relies heavily on manual documentation such as bills of lading, which slows down processes.

Through this collaboration, the companies will explore digital solutions to streamline logistics and improve efficiency.

TradeWaltz, with its experience in building digital trade platforms, will play a key role in modernising these systems.

Sustainability is another important pillar of the agreement. The companies plan to introduce measures that reduce the environmental footprint of automobile transport.

This aligns with the global push towards greener supply chains and reflects Japan and India's joint vision for sustainable economic development in Africa.

Each partner brings unique strengths to the collaboration. MOL, one of the world's leading shipping companies, has been expanding its dedicated automobile transport services between India and Africa to meet growing demand.

Suzuki, which manufactures affordable and fuel-efficient cars in India, aims to cater to Africa's expanding middle-class population.

TradeWaltz, supported by major Japanese firms, contributes its expertise in digitalisation and has already carried out research in Kenya and India under government-backed projects.

The MoU represents a significant step towards deepening economic connectivity between India and Africa.

By combining shipping expertise, automotive strength, and digital innovation, the three companies hope to build a stronger trade corridor that benefits both regions.

(KNN Bureau)

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