STEP UP COOPERATION TO MEET INDIA BELARUS BILATERAL TRADE TARGET OF US dollar 500 MILLION BY 2010 KAMAL NATH
Date : 18 Nov 2008
Location : New Delhi
Shri Kamal Nath, Union Minister of Commerce and Industry, has said that there is a need to step up cooperation to meet the India-Belarus bilateral trade target of US $ 500 million by 2010, as envisaged during the visit of President A. Lukashenka to India in April 2007. During the bilateral meeting with Mr. A. Rusetskey Minister of Industry, Belarus, here last evening, Shri Nath stated that although there has been a growth in India Belarus bilateral trade, it is far below the potential. He further added that there is need to explore potential in sectors such as machine tools, metallurgy, radio electronics, drugs and pharmaceuticals, agro industrial machinery, heavy duty road construction, bearings, fertilizers, wood and wood products, tyres, mining equipments and in food processing.
According to the Directorate General of Commercial Intelligence & Statistics, India’s bilateral trade between India and Belarus in 2007-08 was US $ 146.39 million, an increase of 36% in comparison to 2006-07. India’s exports to Belarus in 2007-08 amounted to US $ 21.18 million while India’s imports from Belarus totaled US $ 125.21 million.