BIG RISE IN INDO-SPANISH TRADE MAYOR OF BARCELONA CALLS ON KAMAL NATH
Date : 24 Oct 2005
Location : New Delhi
There has been a big increase in Indo-Spanish bilateral trade with the two- way trade showing a rise of more than 33% in 2004-05 over the previous financial year. Of the total trade of US $ 1.6 billion ($ 1687 million) in 2004-05, India’s exports to Spain were valued at US $ 1.3 billion ($ 1314.21 million), while imports from Spain were US $ 372.56 million. India has always had a favourable balance of trade with Spain, but of late imports from Spain are also showing substantial increase. This was indicated during discussions here this evening when the Mayor of Barcelona (Spain) Joan Clos called on Shri Kamal Nath, Union Minister of Commerce and Industry, with a large business delegation.
Shri Kamal Nath said that India attached great importance to its ties with Spain, particularly commercial and economic relations. He conveyed his appreciation that a large business delegation was accompanying Mr. Clos, which, he said, confirmed the priority that Barcelona was attaching to fostering relations with India. “This visit would take bilateral relations to new heights of cooperation and friendship”, Shri Kamal Math said.
A delegation of 50-60 persons from Barcelona is currently on a visit to Mumbai, Delhi and Bangalore from 22nd to 29th October, 2005 for an institutional and business event “Barcelona Business Bridge”. The delegation is being jointly headed by Mr. Joan Clos and Mr. Miquel Vallis, President of the Barcelona Chamber of Commerce. The objectives of the visit are: to develop and strengthen the existing political and business relations between Barcelona, Delhi, Mumbai and Bangalore; to gain greater awareness of these Indian cities and explore business opportunities by learning about the competitive factors and keys to success in India; and to promote Barcelona as a business centre with strong economic and commercial potential, its urban transformation projects and its unique model as a city.