The Hindu Business Line : Italy signs 3 pacts to boost business ties

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Kolkata Feb. 12 Three memoranda of understanding (MoUs) were signed between Indian and Italian firms on Monday, when the largest-ever Italian SMB (Small & Medium Businesses) delegation of 400 entrepreneurs visited Kolkata to explore businesses opportunities in the State and hold discussions with their counterparts here.

While one MoU was signed between Magaldi Power and DC Industrial Plant Services Pvt Ltd for an exclusive licensing arrangement for selling the Magaldi MAC dry bottom ash extraction system for West Bengal, the other was between Unione Parmense Degli Industriali and the Confederation of Indian Food Trade & Industry for "promoting, improving and developing economic relations and investments between the Indian and Italian business communities engaged in the food sector".

The third MoU was signed between the Council for Leather Exports and the National Association of Italian Manufacturers of Footwear, Leather Goods and Tanning Machinery for setting up a tanning training & service centre in Kolkata and to provide assistance in terms of machinery and trainers.

The MoUs were signed in the presence of Ms Emma Bonino, Italy's Minister for International Trade & European Affairs, and Mr Giuseppe Morandini, President of Small Industry Confindustia.

Speaking on the occasion, Mr Morandini said: "SMEs are very important for the growth of industry. Italian firms are keen to invest in SMB clusters which are coming up in West Bengal. The local SMB houses have competitiveness in areas such as agro & food processing, leather & textiles, and energy, and we are looking at exploring the options of partnering with them. The three MoUs signed today are a step in that direction."

The 400-member Italian delegation is being led by the Prime Minister of Italy, Mr Romano Prodi. Around 2,000 B2B meetings are expected to take place between Monday and Tuesday, when the Italian Prime Minister will address a session on "Indo-Italian Synergy: Destination West Bengal".

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