Industry & Economy
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Foreign Trade
Czech, India target $1-billion bilateral trade
Our Bureau
Kolkata
,
Jan. 20
CZECH Republic and India want to build on their friendly relationship and increase the bilateral trade to $1 billion in future, according to Mr Jiri Paroubek, the Prime Minister of Czech Republic.
He was addressing a plenary session at the CII Partnership Summit on Thursday. He said trade and investment are the key components for building a relationship between the European Union and India.
Czech Republic became a member of European Union in 2004. From 2010 it would change its currency to Euro. In 2005, it recorded a GDP growth of 5 per cent, which is three times higher than the average GDP growth rate of EU and its best in the last seven years.
"Ours is one of the most modern and liberal industrial countries. Our economy is driven by external trade and our industrial productivity is extremely high. Our country is politically and socially stable too," Mr Paroubek told the CII members.
Regarding bilateral trade with India, he said that it would increase to $1 billion but, at present, it was even less than $0.5 million.
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