Syria invites India to explore possibilities for joint ventures

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New Delhi, June 18 : Syrian President Bashar al-Assad today asked India to explore opportunities for joint ventures in major areas like infrastructure development, energy production, mineral processing as well as IT education and training opportunities.

This is the first visit by a Syrian President to India in three decades, which will last for five days.

Addressing a meeting of FICCI, CII and ASSOCHAM in New Delhi, the Syrian President said his visit to India would create new possibilities for cementing the relationship between the people of the two sides.

Syria's strategic central location in West Asia would enable Indian business to reach out to 160 million consumers due to bilateral and regional trade agreements in the region, he added.

Earlier in the day, India and Syria signed three agreements to further the flow of investment, technology and services between the two countries.

While the first agreement deals with avoidance of double taxation and prevention of fiscal evasion with respect to taxes, second is a pact on multi-lateral promotion and protection of investments.

A Memorandum of Understanding (MoU) to increase cooperation in the field of agriculture and allied sectors was also signed.

Earlier, talking to reporters at Rashtrapati Bhawan, the Syrian President urged India to take part in the West Asian peace process. He said that emerging India could play an important role not only in Asian affairs but also at the global level.

ANI

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