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Expo on free trade zones inaugaurated

By Our Staff Reporter

NEW DELHI, FEB. 21. The Delhi Industries and Labour Minister, Mangat Ram Singhal, inaugurated the second edition of "World Free Trade Zones and Expo 2004'' at Pragati Maidan here today. The expo will also explore opportunities to enhance tourism and trade relations between Delhi and Dubai in view of the world turning into a global village and distances no longer a hindrance.

The exhibition has been co-hosted by the Union Commerce Ministry and the World Federation of Free Zones. According to Raju Lula, director of Dimensions Four, the hosts of the event, the expo seeks to present an outstanding opportunity for the Free Economic Zones in India and its States to showcase investment opportunities in industry, commerce, exploration of natural resources, establishment and lease of free zones and science parks, seaports and airports. All the visiting delegates comprising investors and institutions are looking at opportunities in India for investments, management contracts, technology transfer and joint ventures.

Speaking on the occasion, Mr. Singhal said that there was a lot of scope for cooperation between the authorities in Delhi and Dubai, the main promoters of the conference in the field of tourism. Accompanied by the Congress MLA, Vinay Sharma, and former Lok Sabha Speaker, Balram Jhakhar, the Industries Minister expressed hope that better cooperation would lead to better investment environment and more participation of multinational companies in parking their funds in Delhi. The former Prime Minister, Chandrashekhar, also visited the expo and showed keen interest in the projects that are sought to be promoted.

Global experts from United Nations, World Bank and successful Free Economic Zones all over the world are also taking part in the conference. They along with the Indian experts would discuss core issues like attracting Foreign Direct Investment (FDI) for infrastructure and promote exports through the development of free zones in the country. The exposition offers a single window for all the Indian companies and multinationals to choose and the most viable investment destination to expand their trade base.

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