Hyderabad: A panel of diplomats from CIS countries threw open opportunities for Indian exporters and business houses for export of various products and setting up joint venture units at a seminar on ‘Focus CIS Region' organised by the Engineering Export Promotion Council (EEPC) here on Friday.
The Centre has already taken a string of initiatives to enhance trade between India and CIS region, including Government Lines of Credit (LOC), inter-banking relations, Double Taxation Avoidance Agreement and Bilateral Investment Protection Agreement.
Mr Oleg Laptenok, Ambassador, Embassy of the Republic of Belarus, said exports of engineering goods from India to Belarus increased from Rs 10.13 crore in 2008-09 to Rs 43.90 crore in 2009-10. These included products such as iron and steel bar, machine tools, residual engineering items and transport equipment.
Trade items
India's major items of exports to Belarus include fish filet, extracts of coffee, raw tobacco, compounds of carbon acid, antibiotics, footwear and electric transformers, while its imports from Belarus included potash fertilisers, polyamides, tyres, artificial threats, intermediate iron or alloy-free steel and electric integrated circuits.
Belarus's total exports were of the order of $21.41 billion, while its imports touched $28.39 billion.
On trade between India and Azerbaijan, India imported goods worth Rs 1,335.72 crore, while exported products worth Rs 142 crore in 2009-10. While India's major items of import from Azerbaijan included aluminium and related products, organic chemicals and vegetables, export included products such as pharma, apparel, machinery, paper, tobacco, medical instruments, dye and paint.
In a presentation, it was pointed out that Azerbaijan made only limited progress on instituting market-based economic reforms, with public and private sector corruption remaining a drag on long-term growth, especially in non-energy sector. Therefore, the need for stepping up foreign investment in the non-energy sector was being increasingly felt in that country.
Mr Sergey B. Mikhalev, Consul, Consulate General of Russian Federation, said there was a 7.5 per cent increase in Indo-Russian trade in 2009 to $7.46 billion, with both the countries targeting $10 billion by the end of 2010.
While India's major imports from Russia included fertilisers, non-ferrous metals, coal, coke & briquettes, newsprint, rubber and organic chemicals, its exports to that country included drugs, tea, coffee, tobacco, machinery, transport equipment, electronic goods and readymade garments.
As far as Kazakhstan is concerned, Indian-Kazakh trade increased from $60 million in 2002 to $196 million in 2007, with almost all major pharma companies having operations in that country. India exported engineering goods worth Rs 75.58 crore to that country in 2009-10, including items such as machine tools and transport equipment.
No comments:
Post a Comment