India, Zimbabwe to deepen investment, trade tiesSeptember 21st, 2011 - 4:44 pm ICT by IANS
Harare (Zimbabwe), Sep 21 (IANS) India and Zimbabwe have agreed to further strengthen bilateral trade and investment ties even as the two countries expedite the ratification process of a Bilateral Investment Promotion and Protection Agreement.
“When I look at the potential of our bilateral trade and investment relations, I am quite convinced that we have only touched the tip of the iceberg,” Minister of State for Commerce and Industries Jyotiraditya M. Scindia said at a press conference here Wednesday.
“India has much to offer Zimbabwe in terms of investments, technology, skills, products and services in diverse economic and social streams. The challenge, for all of us, lies in translating this potential and promise into multiple partnerships in diverse business sectors,” he added.
Scindia earlier held talks with Zimbabwean Industry and Commerce minister Welshman Ncube.
During the meeting the two leaders “agreed to expedite the ratification of Bilateral Investment Promotion and Protection Agreement,” an official statement released after the meeting said.
Scindia said there were scope for significant diversification and increase in India-Zimbabwe bilateral trade.
Bilateral trade between India and Zimbabwe was $125 million in 2010-11. Scindia said there was scope to substantially increase this.
“In the coming years, the maximum growth will be from South-South trade amongst the countries of Asia, Africa and Latin America,” he said.
He said Indian government-run firms like Indian Railway Construction Company (IRCON) and Rail India Technical and Economic Services (RITES) could assist Zimbabwe in expanding and rehabilitating its rail infrastructure.
- India offers to develop Botswana's rail network - Sep 20, 2011
- India awaits ratification process for BIPA: Anand Sharma - Mar 29, 2011
- Colombia to ratify tax treaty with India by year-end - Jul 08, 2012
- India inks $1 mn pact to train African craftswomen - Feb 29, 2012
- India mulling free trade pacts with African countries - May 15, 2012
- India to train African craftswomen in basketry - Jan 10, 2012
- Argentina buys Indian pharma products worth $200 million - May 04, 2011
- India proposes $100 mn line of credit for Zimbabwe - Jan 10, 2012
- India, Pakistan seek to better trade ties - Aug 24, 2011
- India, Peru cooperation can boost two-way trade: Scindia - Sep 08, 2010
- India, South Africa to cooperate in SME sector - Nov 15, 2011
- India business delegation visits South America - Jul 06, 2012
- India wants to cooperate with Cuba in energy, telecom - Jul 14, 2012
- India seeks to invest in diverse sectors of Peruvian economy - Sep 08, 2010
- ONGC-led consortium to invest $3 billion in Venezuela - Jul 11, 2012
Tags: bilateral investment, bilateral trade, business sectors, commerce minister, countries of asia, economic services, indian government, indian railway, investment promotion, investment relations, investment ties, investment trade, ircon, maximum growth, ncube, rail infrastructure, railway construction, scindia, trade ties, welshman