Industry & Economy
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Foreign Trade
India, Ecuador to establish trade ties
Our Bureau
New Delhi, July 18
India and Ecuador identified education, pharmaceuticals, food processing and energy as areas of co-operation. They also said that industry in the two countries could come together in areas such as eco-tourism, food processing, floriculture and software. "The two countries can establish strategic alliances in these areas," said Mr Francisco Carrion, Minister of External Affairs, Ecuador. While speaking at an interactive session organised by the Confederation of Indian Industry (CII) on Tuesday, he expressed optimism about bilateral economic relations between the two countries and said that he expected it to grow. He also saw increased cooperation in trade, investment and education between the two countries. Mr Arvind Pandalai, Chairman and Managing Director of State Trading Corporation of India Ltd (STC), said there was good scope for cooperation between the two countries in the manufacture for third country exports. India could brand bulk drugs in Ecuador for sale to third countries, as it was doing in the Commonwealth of Independent States (CIS) countries, Dr Pandalai said.
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