The Hindu Business Line : Kamal Nath for greater trade with Kyrgyzstan

New Delhi, Feb. 6 The Union Minister of Commerce and Industry, Mr Kamal Nath, on Wednesday underscored the importance of improving bilateral trade between India and Kyrgyzstan as both the countries are traditionally close.

This was also reinforced by close political rapport and meaningful economic cooperation. Both sides discussed steps for increasing bilateral trade in the areas of food processing, textiles, agriculture, science & technology, tourism, chemical, and pharmaceutical.

Pointing out the difficulties faced by the Indian businessmen in obtaining the Kyrgyzstan visa, Mr Nath sought a streamlined and faster clearance. He also invited Kyrgyzstan investment in India in view of the excellent investment climate and the opportunities available for the companies to take advantage of.

Mr Nath also stated that “Indian skills and capacity in the IT are now globally acknowledged and we can share our expertise in this area with your country”.

Export jolt

Available trade figures suggest that India’s exports to Kyrghyzstan suffered a jolt in the first half of 2007-08 as they declined by close to 19 per cent at $18 million, as compared to $22.24 million in the corresponding months of 2006-07. Imports from Kryghyzstan also declined by a massive 48 per cent at $ 0.77 million in the whole of 2007-08, against $1.47 million in 2006-07.

Major commodities of export to Kyrgyzstan from India are RMG wool, RMG cotton including accessories, leather goods, handicrafts, machinery and instruments, cosmetics and toiletries, while major commodities that India imports from Kyrgyzstan are raw wool, manufactures of metals, raw silk, crude minerals and metal scrap.

More Stories on : Foreign Trade

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page