Kamal Nath calls for doubling Indo-Greek trade by 2010

November 14th, 2007 - 10:39 am ICT by admin  

He called for working towards doubling of the trade between India and Greece to reach and exceed one billion Euros by 2010.

Welcoming Petros Doukas, Deputy Foreign Minister of Greece, who called on him here, Kamal Nath observed that the bilateral trade between the two countries has shown a robust growth during the last two years.

Inviting the Greek entrepreneurs to invest in the development of India’s infrastructure sectors over the next decade to build and develop various projects in energy, railways, highways and shipping, Kamal Nath hoped that once the renegotiations of double-taxation avoidance agreement (DTAA) and the implementation of Bilateral Investment Promotion and Protection Agreement (BIPA) are complete, it would encourage investments in both the countries.

He briefed the visiting members of the delegation about India being an established global service provider in the field of IT and software, and expressed the hope for Indo-Greek cooperation in this sector.

The Indian exports to Greece were 564.09 million dollars in the year 2005-06, which rose to 672.03 million dollars in the year 2006-07, achieving an increase of 20 percent.

The main exports to Greece from India include petroleum (crude and products), transport equipments, marine products and cotton yarn, while the main imports consist of Metalifers ores and metal scraps.

Senior officials from the Government of Greece along with members of business community were also present at the meeting. (ANI)

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