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Iceland team to meet FICCI officials

Our Bureau

MUMBAI, Oct. 29

MR Olafur Ragnar Grimsson, President of the Republic of Iceland, accompanied by a high-level delegation is meeting FICCI representatives here on November 1.

The delegation comprises representatives in the areas of information technology, pharmaceuticals, film industry and fishing.

The delegation is seeking to establish co-operation in the areas of pharmaceuticals, develop contact with software companies, and make their expertise and services known to the Indian company, according to a release issued by FICCI.

Indian companies seeking to establish links with Icelandic companies are the Hinduja Group, Pfizer India, CETMA, Indian Pharma Alliance, Essar Group, Thomas Cook, Asian Paints, Finolex Cables, Grasim Industries, IL&FS, Somaiya Group, Kores India Ltd, Rol ta Ltd, Kolhapur Sugar Mills Ltd and Triochem India Ltd.

Exports to Iceland in 1999-2000 were $4 million, while imports from Iceland amounted to $1.03 million. Major exports to Iceland include cotton yarn, fabrics, made-up sets, gems and jewellery, drugs, pharmaceuticals and fine chemicals, iron and steel bar. Imports from Iceland include medicinal and pharmaceutical products.

``Iceland's strength lies in large and medium size industries, manufacturing industries, marine and fish industries, food production, software development, health care and technology, education and know-how, trading and commerce, nature and tourism and e ntertainment industry,'' the release said.

As Iceland was endowed with hydro and geo-thermal energy and environmental resources, companies wishing to use natural energy to produce in an unspoilt environment would find opportunities, the release said.

``The country has excellent harbour and airport facilities and is also a tourist destination. the overall economic environment is attractive to foreign investors,'' the release said.