The Hindu : National : India, Serbia sign trade pact

Online edition of India's National Newspaper
Wednesday, Feb 08, 2006

National

National

India, Serbia sign trade pact

Special Correspondent

NEW DELHI: India and Serbia & Montenegro on Tuesday have concluded here a "Trade and Economic Cooperation Agreement" which includes grant of Most Favoured Nation (MFN) treatment in trade of goods and services and setting up of a Joint Economic Committee to explore new areas for bilateral trade.

The agreement was signed by Commerce and Industry Minister Kamal Nath and Serbia's Minister of International Economic Relations Predrag Ivanovic. According to an official release, Mr. Kamal Nath welcomed the new initiative and recalled the traditional cooperation between India and the erstwhile Yugoslavia in spearheading the Non-Aligned Movement. He felt there was "immense potential" for a mutually rewarding economic cooperation between the two countries in information technology, drugs and pharmaceuticals as well as auto components.

Expressing happiness at the steps being taken by the two countries to renew bilateral ties, Mr. Ivanovic said the interest of Indian industry in Serbia and Montenegro had remained limited so far due to lack of information about the prevailing economic climate. He was confident that the Agreement would provide a big boost to the comfort level of Indian companies wanting to explore their market for trade in goods as well as services.

Printer friendly page
Send this article to Friends by E-Mail