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HYDERABAD: The CIS countries (Commonwealth of Independent States) with their vast natural resources and technical expertise would hold key for trade relations as they had the potential to impact the world's economy, senior diplomats of four CIS countries said here on Friday.
Speaking at a seminar, “Focus on CIS Countries”, organised by the EEPC India, formerly known as Engineering Export Promotion Council, the representatives of Russian Federation, Belarus, Kazakhstan and Azerbaijan stated that though they had only 5 per cent of the world's population they were contributing to 10 pc of world's economy.
Ambassador of Belarus Oleg Laptenok said the country was seeking Indian expertise in medical and other hi-tech areas. About 60 to 90 pc of Belarus' GDP was generated through exports, he noted and narrated how it provided easy outreach to EU countries.
About 80 pc of Kazakhstan's power sector needed modernisation , Ambassador of Kazakhstan Doulat Kaunyshev said. Vice-Chairman of EEPC India Mahesh K. Desai and Regional Director M. Ganesan explained the multi-fold potential the CIS countries had in engineering goods and service sector.They also emphasised the need to revive a land route via Iran as the existing sea route was circuitous.
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