New Delhi: India and Czech Republic have agreed to double bilateral trade in three years to reach the level of US$ 2 billion. Both the countries have agreed to launch Joint Working Groups (JWGs) in areas of skills and innovation, heavy engineering, life sciences and pharmaceuticals, as per an official statement.
At present, the bilateral trade between the two countries stood at about US$ 1 billion.
Mr Anand Sharma, Union Minister for Commerce, Industry and Textiles, India met Mr M Kuba, Minister of Trade and Industry, Czech Republic and discussed measures to deepen bilateral engagement. Discussions focussed on sectors of mutual interest such as mining, auto, heavy industries, power generating equipment and technical textiles.
During his three-day visit, Mr Sharma and Mr Kuba jointly inaugurated the "India Show" in Brno, Czech Republic, at the MSV Fairground on September 10, 2012. The India Show is being organised jointly by the Ministry of Commerce and Industry and Engineering Export Promotion Council (EEPC) India. Mr Sharma, who lead the business delegation to participate in the India Show, also called on Mr Vaclav Klaus, the Czech President and Prime Minister Mr Petr Necas.
Over 135 companies belonging primarily to India’s engineering sector are participating, showcasing their strengths and capabilities with respect to Indian products, technologies and services during this entire week. These companies represent the entire scale of India’s engineering strengths; encompassing the small, medium and the large scale sectors.
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