Business   

Norway Prince seeks deepening of trade ties

Special Correspondent

India invites Norway to invest in SEZs

PHOTO: R. V. MOORTHY

BOOSTING BILATERAL TRADE: (from left): Union Power Minister, Sushil Kumar Shinde, and Commerce and Industry Minister, Kamal Nath, with Norwegian Minister of Trade and Industry, Dag Terje Andersen, at the Indo-Norwegian Business Forum in New Delhi on Thursday.

NEW DELHI: Norwegian Crown Prince Haakon on Thursday sought deepening of trade, economic and political ties between his country and India to hasten faster growth.Addressing Indian industry here at a meeting organised by the Associated Chambers of Commerce and Industry of India (Assocham), the Confederation of Indian Industry (CII) and the Federation of Indian Chambers of Commerce and Industry (FICCI), the Crown Prince exuded optimism saying, "The relations between India and Norway are strong. The trade is increasing steadily. While the use of Norwegian machinery and ships is more and more prevalent in India, Indian textiles, leather products and fruits have established strongholds in Norwegian households. But the story does not stop there".

"We should therefore work harder so that we forge ties in a manner that propel our relations to heights under which the potential relationship is built between Norway and India,'' the Crown Prince said.

Rise in trade volumes

The Commerce and Industry Minister, Kamal Nath, said that in the last five years, trade volumes between Norway and India had risen by 100 times and the scope was such that these could further be enhanced. Political and economic relations between the two countries were so strong that in the forthcoming WTO talks, Norway would lend all its support to India in its endeavour on agricultural subsidy, the Minister said.

He invited Norway, which has transformed into a knowledge society, to invest in special economic zones, which were particularly suited for small and medium enterprises. Sushil Kumar Shinde, Union Power Minister, sought cooperation between India and Norway not only in the area of hydro power but also in other areas such as telecommunication, shipping and machinery.

Dag Terje Andersen, Norwegian Minister of Trade and Industry called for establishing higher level of bilateral economic and trade cooperation and hoped that Crown Prince visit would facilitate it in future with renewed vigour.

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

Stories in this Section

PM against use of trade curbs
Tata Tea to offer shares to staff
Norway Prince seeks deepening of trade ties
Aircel's plans to roll out national brand
CTS to invest $200 m
Rupee closes shade lower
RIL leads rally for second day
Dhanalakshmi Bank's net touches Rs. 7.02 cr.
SBT hikes interest rates
PCB serves notice on steel and allied units
Bullion rates
Exchange rates
Court restrains BSNL
Dabhol power project resumes operation
Consortium acquires stake in Tatra
UBS launches market index for emissions
Kalyani group in pact with ST Kinetics
IOB hikes FCNR, NRE term deposit rates
CUB raises NRE, FCNR deposit rates
Karur Vysya Bank increases FCNR rates
JHS Svendgaard pact with Subiksha, Spencers
Satyam named premier ESO vendor by BWG

Copyright © 2006, The Hindu. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu