The Confederation of Asia-Pacific Chambers of Commerce and Industry (CACCI) has signed a Memorandum of Understanding (MOU) with the Afro Asia-Pacific Development Council (AFRADEC) outlining principles and general guidelines for increased cooperation between the two organizations.

AFRADEC is composed of companies and institutions from Africa and the Asia-Pacific regions which are engaged in international trade and governance. It is a non-profit economic development platform for multi-lateral trade engagements and cultural linkages between and among businesses and institutions in the economies of Africa and the Asia-Pacific rim. Headquartered in Toronto, Canada, AFRADEC has offices and representations in some other locations in Africa, North America and the Asia-Pacific which are strategic in enabling the conduct of its operations and also to enhance greater access by its patrons to opportunities in the emerging markets of the African and Asia-Pacific economies.

President Mr. Samir Modi signed the MOU on behalf of CACCI while Founder and CEO Mr. Charles-Bruno Okpuruka was the signatory on the side of AFRADEC.

One of the provisions of the MOU was the appointment of the incumbent CACCI President and two incumbent CACCI Vice Presidents as members of the AFRADEC Board of Directors, and three members of the CACCI Advisory Board as members of the AFRADEC Advisory Council, subject to their availability.