MoU to streamline automobile trade

Three leading Japanese companies have signed a Memorandum of Understanding to streamline automobile trade between India and Africa. The partnership of Mitsui O.S.K. Lines (MOL), TradeWaltz Inc., and Suzuki Motor Corporation aims to identify and resolve challenges in the automobile trade corridor related to logistics, documentation and sustainability. Under the MoU, MOL will expand its automobile transport services between India and Africa by adding new capacity, TradeWaltz will implement digital trade platforms and Suzuki, which already exports Indian-made compact cars to Africa, will continue to support mobility needs in African markets by providing fuel-efficient, affordable vehicles.