Economy

Ecuador seeks to boost bilateral trade with India

V. Rishi Kumar Hyderabad | Updated on November 27, 2014 Published on November 27, 2014

Priscila Moscoso Meiller, Trade Officer Consulate General of Ecuador

Spanish speaking South American nation of Ecuador is seeking to boost bilateral trade with India, up from $ 500 million now, by inviting manufacturing units, including Indian automotive companies, to locate their facilities back home there promising to offer slew of incentives.

Priscila Moscoso Meiller, Trade Officer Consulate General of Ecuador, told Business Line, “Ecuador has opened its office in Mumbai and is now seeking to boost the two way trade between the two countries. We have plenty to offer for Indian manufacturing companies and there is huge potential for export items from Ecuador into India.”

Speaking on the sidelines of a CII meet, she said Pro Ecuador, Institute of Export and Investment Promotion consider there is great potential for cooperation between the two nations and also in boosting trade volumes. Indian companies can make Ecuador their hub for serving the strong South American market be it developing the services industry or setting up a manufacturing unit or making use of the local manufacturing to support other markets.

One of the popular items imported into India from Ecuador is the teakwood, which is abundant and useful for furniture in India. Apart from these, flowers, sea food, coffee and chocolate and other food items such as banana chips have immense potential in India, she said.

“There is no better way than saying it flowers. And there are plenty of flowers in Ecuador to supply to other markets. The roses in particular are sought after. Then we have hand woven Toquilla Straw Hats (also known as Panama hat), which is a high fashion accessory in countries like France, Spain and Italy,” she said.

Published on November 27, 2014
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