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Great opportunity for stepping up Indo-Begium trade ties

Written by: Staff

Hyderabad, Mar 1 (UNI) Belgium, India's seventh largest trading partner and third in European Union, is keen to step up bilateral trade in various fields, including gems and jewellery, according to its Trade Commissioner of Flanders(Belgium) Jayant Nadiger.

Interacting with captains of trade and industry at the Federation of Andhra Pradesh Chambers of Commerce and Industry, he said Belgium's trade with India was the third highest among all Asian countries and accounted for 12.5 per cent of Belgium's overall trade with Asia.

Given the size of the Indian market and the role Belgium could play as a ''gateway'' to Europe for Indian products, there were several areas of economic cooperation, he noted.

Pointing out that Indian software companies such as TCS, TATA Infotech, HCL and Infosys had set up offices in Brussels and doing business with Belgian companies, he said the penetration by Indian IT majors was far low in Belgium when compared to the business with the USA. Belgium offered a great opportunity for IT projects, he added.

Speaking on successful joint ventures in the field, he said the diamonds cut at the Special Economic Zone(SEZ) in Visakhapatnam by trained rural women, enjoyed a premium in the New York Market. The diamonds share in Indian exports 57.80 per cent valued at USD 868.49 million in 2000.

Belgium companies had expertise in Ports development and logistics and evinced interest in development of minor ports in Andhra Pradesh. One of the companies had reclaimed a beach in Visakhapatnam by dredging. They were looking at the massive Sethusamudram Project off the coast of Tamil Nadu for participation, he informed.

Companies in Belgium, which had expertise in brewing 450 types of beers with nutritional value, besides intoxication, were eager to collaborate in the field of food processing, he said.

There was a good scope for seefood exports, he said, inviting entrepreneurs for the International Sea food exhibition in Brussels later this month.


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