In­dia and Be­larus tar­get to achieve $1 bil­lion trade by 2018

FICCI Business Digest - - Internacional Initiatives -

The trade be­tween In­dia and Be­larus to­day stands at around $450 mil­lion and the two na­tions are now aim­ing to take this fig­ure to $1 bil­lion by 2018. To achieve this tar­get and a high turnover there was a need to ef­fec­tively im­ple­ment the ex­ist­ing roadmap for co­op­er­a­tion. The two na­tions should fo­cus on renewable energy, phar­ma­ceu­ti­cals and bio-tech, au­to­mo­tive in­dus­try, hi-tech and food sec­tors as these of­fer am­ple op­por­tu­ni­ties for in­vest­ment and trade.

This was stated by Mikhail Myas­nikovich, Chair­man of the Coun­cil of the Repub­lic of Na­tional As­sem­bly, Repub­lic of Be­larus, at an in­ter­ac­tive ses­sion or­ga­nized by FICCI in as­so­ci­a­tion with the Em­bassy of the Repub­lic of Be­larus in In­dia in New Delhi on May 12, 2016.

Myas­nikovich called upon the In­dian and Be­laru­sian in­dus­try to pro­mote in­ter­re­gional co­op­er­a­tion in an ac­tive man­ner. He as­sured that Be­larus would help in trans­fer of tech­nol­ogy, mak­ing In­dia a tech­no­log­i­cally-ad­vanced coun­try.

He said that in Be­larus four phar­ma­ceu­ti­cal pro­duc­tion projects are be­ing car­ried out jointly with In­dian in­vestors. To­gether with po­ten­tial In­dian part­ners, lead­ing Be­larus­sian in­dus­trial com­pa­nies are work­ing to­wards es­tab­lish­ing man­u­fac­tur­ing fa­cil­i­ties in In­dia.

Un­der­lin­ing the chal­lenges faced by the In­dian and Be­laru­sian busi­nesses, G V Srini­vas, Joint Sec­re­tary, Min­istry of Ex­ter­nal Af­fairs, said that com­mu­ni­ca­tion gap, visa is­suance and flight con­nec­tiv­ity, were ar­eas of con­cern. He added that in to­day's day and age, com­mu­ni­ca­tion gap can be eas­ily bridged with the help of tech­nol­ogy. On visa is­suance and flight con­nec­tiv­ity, Srini­vas said that the two sides were aware of the is­sues and were work­ing to­wards re­solv­ing them.

An­drei Hrynke­vich, Head of Asia, Aus­tralia & Ocea­nia, De­part­ment of the Min­istry of For­eign Af­fairs, Be­larus, said that a highly skilled work­force, ge­o­graph­i­cal po­si­tion of Be­larus and rapid eco­nomic de­vel­op­ment with a fa­vor­able in­vest­ment cli­mate made Be­larus a good des­ti­na­tion for in­vest­ment. He added that with an in­dus­tri­ally de­vel­oped econ­omy, wellde­vel­oped trans­port and com­mu­ni­ca­tions in­fra­struc­ture, per­fect ac­cess to dif­fer­ent mar­kets, Be­larus was an at­trac­tive na­tion for in­ter­na­tional trade.

Vi­taly Prima, Am­bas­sador, Em­bassy of the Repub­lic of Be­larus, said that there was a need for stim­u­lat­ing eco­nomic ac­tiv­i­ties be­tween In­dia and Be­larus. The B2B meet­ings were a great op­por­tu­nity for ex­plor­ing new ar­eas of co­op­er­a­tion and forg­ing part­ner­ships and in en­ter­ing fea­si­ble projects.

Mikhail My­at­likov, Chair­man, Be­larus Cham­ber of Com­merce and In­dus­try, said that there was a need for a frame­work for theeco­nomic part­ner­ship to achieve the set tar­get of $1 bil­lion by 2018. He added that Be­larus was one of the lead­ers among the CIS coun­tries ac­cord­ing to the level of eco­nomic de­vel­op­ment and of­fered busi­ness op­por­tu­ni­ties in var­i­ous sec­tors.

Rakesh Bak­shi, Chair­man and Man­ag­ing Di­rec­tor, RRB Energy Lim­ited, said that to achieve the tar­get of $1 bil­lion trade be­tween the two coun­tries by 2018, In­dia and Be­larus need to cre­ate a roadmap which clearly de­fines tan­gi­bles and de­liv­er­ables. He added that phar­ma­ceu­ti­cals, clean energy, de­fence and heavy en­gi­neer­ing, were some of the key sec­tors where both the coun­tries could es­tab­lish fruit­ful as­so­ci­a­tions.

Payal Koul Mi­rakhur, Vice Pres­i­dent, In­vest In­dia, made a pre­sen­ta­tion on In­vest In­dia. On the oc­ca­sion, a num­ber of agree­ments and Mem­o­ran­dum of Un­der­stand­ing were signed be­tween the In­dian and Be­laru­sian com­pa­nies.

Mikhail Myas­nikovich, Chair­man of the Coun­cil of the Repub­lic of Na­tional As­sem­bly, Repub­lic of Be­larus.

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