The Hindu Business Line : Croatia offers passage to European markets

MR Stjepan Mesic, President of Croatia, has said that there is a need to change the current relatively low level of economic co-operation as compared with the good political relations between the two nations. The President was addressing an interactive meeting organised jointly by FICCI and CII.

Alluding to the potential for bilateral economic co-operation and trade between Croatia and India, the Croatian President added that the promotion of measures for intensifying mutual economic relations and trade between the two countries could be more substantial and more balanced involving an expanded range of goods.

Mr Mesic pointed out that Croatia could work as a window to major European markets for Indian products and services because of the favourable geographical position and developed transport infrastructure that it ha. "Croatia can offer India the services of the Zagreb Airport and the Rijeka seaport as well as the Croatian free trade zones as distribution and manufacturing centres for the European markets, the markets of European Unions and that of the Central and Eastern Europe Free Trade Association (CEFTA).''

The President further highlighted Croatia's comparative advantages over other European countries with regard to seaports, rail and road links with central and eastern Europe. Mr Mesic added that new facilities and incentives for foreign investors in Croatian free trade zones were being planned.

On the issue of enhancing export efforts between the two countries, the Croatian President said that the Croatian Export Bank (HBOR) had concluded an agreement on co-operation between the national export agencies of India and Croatia first through the determination of the export risk "insurance limit" and subsequently through the definition of export financing conditions. Mr Mesic stressed that in the regional and global context the two countries could appear jointly in third markets.

Elaborating the issue of bilateral co-operation between the two nations, the President said that co-operation was possible in areas such as chemical and petrochemicals, ship-building, agriculture and food production, pharmaceuticals, computer technology, iron and steel engineering, infrastructure particularly power and oil and gas.

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