Businessmen should cement India-Mexican ties: Patil

April 19th, 2008 - 12:48 pm ICT by admin  

A file-photo of Pratibha Patil
By Liz Mathew
Mexico City, April 19 (IANS) India and Mexico have elevated bilateral ties to a “privileged partnership”, and it is the turn of business community to take the journey forward, said Indian President Pratibha Patil. Patil, who was addressing Indian and Mexican delegations here, reminded the businessmen that governments could only “play a coordinating role and help create a conducive political and economical environment”.

“We have a long journey ahead of us. Governments can only play a coordinating role and help create conducive political and economic environment. But you are the actual players on the field,” Patil said on the sixth day of her tour to Latin America.

Listing out the steps taken to improve bilateral trade, she said: “The governments have already declared their intention by elevating the bilateral ties to a ‘privileged partnership’. They have also set the target for trade at $5 billion by the year 2010.

“A Bilateral Investment and Protection Agreement and the Double Taxation Avoidance Agreement are already in place.

“An Air Services Agreement has been signed providing the framework for connectivity through air services, both in passenger and cargo segments.

“The institutional infrastructure is thus in place. Similarly, the governments have liberalized visa regimes considerably, especially for business travel,” she said.

The Confederation of Indian Industry (CII) and its Mexican counterpart COMCE signed a memorandum of understanding (MoU) to open one stop shop for businesses in Mumbai and Mexico.

The MoU was signed by Mathur Bajaj, vice president of Bajaj Auto Ltd, and Valentin D

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