INVEST IN SERBIA TO GET ACCESS TO EUROPEAN MARKET” - Jairam Ramesh calls upon Indian industry to set shop in Serbia to benefit from a’s trade agreement
Date : 10 Feb 2006
Location : New Delhi
The Minister of State for Commerce, Shri Jairam Ramesh has said that the Government would welcome and encourage participation of Indian companies in the privatisation of tractor and farm equipment manufacturing facilities in Serbia. He conveyed this to Dr. Milan Parivodic, the visiting Minister of International Economic Relations, Republic of Serbia, when the latter called on him, here today. The purpose of the Meeting was to identify potential areas for trade and investment that would be mutually beneficial.
At the outset, Dr. Parivodic informed Shri Jairam Ramesh that Government of Serbia has imbarked upon a major economic restructuring process under which they plan to privatise some of their public sector undertakings. To begin with, they have put their tractor and farm equipment manufacturing facility on the block, and four India companies, including M/s TAFE and Mahindra & Mahindra, have expressed keen interest. Dr. Parivodic further said that in view of Serbia’s Trade Agreement with the European Union, they expect keen participation from Indian companies, as a foothold in Serbia would give them customs-free access to the lucrative European market. Welcoming the initiative taken by Indian companies in expanding to Serbia and other European countries, Shri Ramesh assured Dr. Parivodic that Government of India would take all necessary steps to extend the age-old friendship between the people of Serbia and India to the realm of trade & investment and generate awareness among Indian industry regarding the business and investment opportunities in Serbia.
During the bilateral discussions, Chemicals, Pharmaceuticals, Automobile (especially Automotive components) manufacturing and Information Technology emerged as the major areas wherein Serbia and India could move forward.
Further to this, Shri Ramesh suggested that ‘Higher Education’ was another area where India could contribute to the Serbian economy as India has a vast human resource enterprise in higher education like engineering, medical and management studies. Adding to this, Dr. Parivodic said that they would especially look forward to Indian IT education companies setting up shop in Serbia as they perceive India as world leaders in the field. Shri Ramesh also invited the construction industry of Serbia to participate in India’s huge infrastructure development initiative.
Assuring the visiting dignitary of concrete steps by India, Shri Ramesh informed Dr. Parivodic that the Department of Commerce would soon write to the leading Industry-specific associations like OPPI, SIAM, ACMA and NASSCOM, for a meaningful engagement with Serbian Government and industry at the earliest.