| EXPEDITE FINALIZATION OF BILATERAL AGREEMENTS TO BOOST INDO-GREEK TRADE
AND INVESTMENT—MR. ANAND SHARMA, MINISTER OF STATE FOR EXTERNAL AFFAIRS
February 8, 2007, New Delhi: The Minister of State for External Affairs, Mr. Anand Sharma today mooted cooperation between the Indian and Greek scientific and academic communities and suggested that the two countries undertake joint research in areas such as energy, biotechnology and information and communication technology amongst others. Mr. Sharma was addressing a gathering of Indian and Greek business leaders at the inaugural session of the India-Greece Business Forum jointly organised by FICCI, HEPO—the Greek foreign trade board, the Federation of Greek Industries and ACCI—the largest chamber of commerce and industry in Greece.
Mr. Sharma highlighted the important role that both governments need to play to orient policies towards furthering business opportunities by establishing appropriate legal frameworks, tariff policies and infrastructure. He indicated that initial steps taken by the governments would lay the foundation for industry to take the process further. In this regard the Indian Minister called for finalization of a number of bilateral agreements coving areas such as bilateral investment protection, double taxation, mutual legal assistance, air services and science & technology.
Identifying complementary areas of trade, the Minister pointed to sectors such as IT, banking, machinery and automobile and engineering goods where Indian businesses could be of significant value to Greece. He referred to the rich experience and leadership of Greece in areas such as tourism, shipping, construction, infrastructure and food processing as areas of learning for India. Mr. Sharma also mentioned other sectors of cooperation such as auto components, pharmaceuticals, health sector, agriculture and education. The Minister of State for External Affairs suggested renewable energy, wind energy, solar energy and biofuels as areas for joint action between India and Greece.
Taking the clue from the Indian Minister, the Minister of Economy and Finance of Greece, Mr. George Alogoskoufis called for faster conclusion of agreements and promised continued efforts at the political level to further ties between the two countries. Mr. Alogoskoufis welcomed the Indian Minister’s suggestions and recommended Greece as a valuable ally to Indian companies that wish to establish a presence in the European market.
The Greek Minister of Economy and Finance highlighted the vast potential of greater ties with Greece. He explained that investing in Greece allows increased participation in the larger opportunities emerging in the greater European region. He highlighted the important role that Greece can play by becoming the gateway for Indian companies wishing to establish a presence in the Southeast European region.
According to Mr. Alogoskoufis, by investing in Greece, Indian businesses gain access to services of 3600 Greek companies operation outside Greece, 1000 Greek banking offices that act as catalyst to neighbouring economies and can take advantage of the rich infrastructure experience of Greece. Greece has been a member of the European Union for past 26 years. In recent years Greece has emerged as one of the fastest growing countries in the European region and has played a major role in development of Southeast Europe.
The Greek Minister also called for further enhancing trade, tourism and economic cooperation. He suggested that both countries should work together to make the world a safer and prosperous place to live. Mr. Alogoskoufis expressed satisfaction at the consistently strengthening economic and business relations between Greece and India and expressed hope in working even more closely in order to reap the benefits of global economic integration.
Earlier in the day while delivering the welcome address, Mr. Sudhir Jalan, Former President of FICCI, appreciated the move towards closer coordination between the two countries. Mr. Jalan mentioned that partnerships between Indian and Greek companies have been on a growth trajectory though there is urgent need to further explore synergies. FICCI has been hosting business delegations from around the world and 95 Indian companies were participating in the India-Greece Business Forum. Mr. Jalan conveyed FICCI’s desire to take a large Indian delegation to Greece thereby imparting greater thrust to business and industry. He identified tremendous opportunities in the hotel and tourism industry in India that Greek companies could avail of. Mr. Jalan remarked that the comprehensive multifaceted engagement that India shares with Greece in trade, investment, IT and tourism sets Greece apart from many other Indian business partners.
MEDIA DIVISION Sugandha Gupta |