INDIA, ZAMBIA IDENTIFY SECTORS FOR INCREASING TRADE AND INVESTMENT
INDIA-ZAMBIA JOINT TRADE COMMITTEE MEETING CONCLUDES
Date : 22 Nov 2000
Location : New Delhi
India and Zambia have identified several potential sectors for increasing trade and investment which include the small scale industries, information technology, agriculture, infrastructure including telecom, transport and power and the pharmaceutical sector. This is indicated in the agreed minutes of the second meeting of the India-Zambia Joint Trade Committee which concluded here this evening. The agreed minutes were signed in the presence of Shri Omar Abdullah, Minister of State for Commerce and Industry, who led the Indian delegation at the two-day meeting and Mr. Jazzman Chikwakwa, Minister for Commerce, Trade and Industry, Government of Zambia, who led the Zambian team. The signing at the official level was done by Shri S. Ramasundaram, Joint Secretary, Ministry of Commerce and Industry, on behalf of the Government of India and his counterpart from the Zambian side. The Joint Trade Committee addressed itself to finding out ways and means of stepping up trade and investments between India and Zambia. Noting that one of the major constraints to the growth in bilateral trade was the existing information gap, the Committee recommended greater participation in each others' fairs and exhibitions, besides identification of the potential sectors for expansion of trade and investment.
Both sides agreed that the two countries had an important bilateral relationship in the areas of trade and investment. Bilateral trade between India and Zambia stood at US $ 41.32 million ( or Rs. 179.05 crores ) in 1999-2000. However, there had been a decline in trade since 1997-98. The discussions took place in a cordial and friendly atmosphere reflecting the shared perceptions of the two countries on major economic issues and their common commitment to further strengthening of the bilateral trade ties.