INDO-CZECH BILATERAL TRADE POISED FOR US$3 BLLION BY 2017: CZECH AMBASSADOR

INDO-CZECH BILATERAL TRADE POISED FOR US$3 BLLION BY 2017: CZECH AMBASSADOR

INDO-CZECH BILATERAL TRADE POISED FOR US$3 BLLION BY 2017: CZECH AMBASSADOR

 

No.PR-115
October 13, 2015
New Delhi

 

INDO-CZECH BILATERAL TRADE POISED FOR US$3 BLLION BY 2017: CZECH AMBASSADOR
 

The bilateral trade between India and Czech Republic is likely to reach a level of US$3 billion in next two years from the current level of US$1.3 billion with Czech Republic trying its best to clinch a nuclear power agreement with India among other areas of cooperation in steel, pharma and technical sectors, according to Czech Ambassador Mr. Milan Hovorka.
 

Addressing an Interactive Business Session with the members of PHD Chamber of Commerce and Industry here today, Mr. Hovorka announced that he would be meeting the Union Power Minister here tomorrow to discuss the possibilities of taking forward the nuclear power cooperation between India and Czech.
 

“The issue of nuclear power cooperation between Indian and Czech Republic was being debated and deliberated upon for over two years but some how it could not be conclusive as yet.  Since India has also been trying to build new capacities in the nuclear sector also and the Czechs have abundant thorium at its possession, it would want that India and Czech begin to cooperate on this front also and a new beginning to this effect would be made when I meet the Indian Power Minister on Wednesday”, he said.
 

According to him, the existing trade volumes of US$ 1.3 billion between India and Czech Republic need to be accelerated to at least a level of US$ 2 billion in next 12 months before they attain the projected target of US$ 3 billion by 2017.
 

“It is because of this reason that Czechs would want India to expand its existing trade basket by seeking to collaborate with India in sectors like hydro, wind, bio and other sectors.  The Czechs can also offer India its superior technologies to enable it reduce the CO2 emissions, currently emitted by the large and medium size companies to help protect its environment”, said the Ambassador.
 

In his welcome remarks, Chairman, Energy Committee, PHD Chamber, Mr. Bimal Sareen said that India has ambitious target for its power sector which could be accomplished in case if India succeeds in seeking cooperation to re-build its energy sector from countries such as Czech Republic and others.
 

In his vote of thanks, Secretary General, PHD Chamber, Mr. Saurabh Sanyal assured the Czechs for Chamber’s best cooperation in its attempts to build business-to-business contacts with Indian industry.
 

ENDS

Koteshwar Prasad Dobhal
Consultant (PR)