India keen to expand economic relationship with Kazakhstan: PM
April 15th, 2011 - 9:14 pm ICT by ANI
Astana (Kazakhstan), Apr 15(ANI): Indian Prime Minister Dr. Manmohan Singh on Friday said that he intends to discuss intensification of Indo-Kazakh economic engagement during his meeting with Kazakh President Nursultan Nazarbaev.
“India and Kazakhstan are both fast growing economies. India grew at an average growth rate of eight percent even during the global recession and Kazakhstan has been able to successfully weather the global economic crisis to embark on to a strong economic growth path. Bilateral trade between our two countries which currently stands at less than about 300 million dollars is much below potential and there is an immense scope for its expansion,” said Dr. Singh, who arrived in Kazakhstan capital Astana today for his first bilateral visit to the country.
“I am aware that Kazakhstan has launched a programme of industrial innovation and India would be happy to participate and share its technical capabilities to mutual benefit. Both India and Kazakhstan could put their efforts together in implementation of joint projects. We are keen to expand our economic relationship in the energy sector, space, agriculture, information technology, health and pharmaceuticals,” he added.
The Prime Minister also highlighted that bilateral trade between the two countries have not picked up to meet the expectations primarily due to lack of direct land connectivity.
“The implementation of the International North-South Transport Corridor project would provide one way for faster and cheaper movement of goods between the two countries,” Dr. Singh said.
Dr. Singh was replying to questions by Kazakh newspapers “Kazakhstanskaya Pravda” and “Egemen Kazakhstan”. (ANI)
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