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CII, Portugal chamber in pact to promote trade
Our Bureau
New Delhi
,
Jan. 12
The strong ties between India and Portugal, which is due to take over the presidency of the European Union (EU), are likely to expedite the proposed Free Trade Agreement between India and the EU, the Minister for State for External Affairs, Mr Anand Sharma, has said.
Addressing a business meeting organised for the visiting Portuguese delegation, the Minister said that Portugal could also act as a platform to provide access to some other markets.
Meanwhile, in an attempt to fuel growth and further cement the existing relations between India and Portugal, the Portuguese Industrial Association/Entrepreneurial Confederation on Friday signed a memorandum of understanding with the Confederation of Indian Industry.
The MoU seeks to establish by June this year a private economic council that would bring together the business community of India and Portugal.
The MoU was signed during the on-going visit of the Portuguese President, Mr Anibal Cavaco Silva.
The membership of the council will be determined according to mutual economic, social and cultural links. The MoU would see both organisations conduct selective studies to promote investments, joint ventures and foreign trade apart from promoting business contacts between companies from both the countries with the aim of establishing partnership and exploring complementarities in order to access third country markets.
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