The Hindu Business Line : Indo-Czech trade set to cross $1 billion this year

The bilateral trade volume between India and Czech Republic is set to cross the $1-billion mark in 2007, a target projected for 2010. It was $650 million in 2006.

Giving this information, Mr Milan Hovorka, Deputy Minister of Industry and Trade of the Czech Republic, said the scope for growth is far higher.

Currently, just 0.5 per cent of the total exports out of Czech Republic are to India, while the comparative figure is 0.4 per cent for India. With the high growth rates in the respective economies, there are enough opportunities for both countries to exploit, he added.

Mr Hovorka made these remarks at a luncheon session organised by the Confederation of Indian Industry, Andhra Pradesh Chapter, for the delegation led by Mr Premysl Sobotka, Chairman of the Senate of the Czech Republic. He identified energy, machinery, transport, infrastructure, eco-technology, as the new areas in which the two countries can work together.

The CII State President, Mr Pradeep Dhobale, in his introductory remarks said they were discussing green fuels options with the Czech business delegation, which visited the CII-Green Business Centre.

The State Minister for Industries and Commerce, Ms J. Geeta Reddy, said in her address that Andhra Pradesh had emerged fourth among States attracting foreign direct investment. The State was optimistic of forging good tie-ups with the Czech companies, she added.

The Czech ambassador to India, Mr Hynek Kmonicek, said for his country India was the sixth-most favoured nation for investment and the third largest export territory. The challenge was to expand the basket of products for export and areas of investment.

The Czech delegation will also sign a MoU with the Jawaharlal Nehru Technological University for research and development.