Italian PM to visit India early next year

New Delhi, July 7 (UNI) Italian Prime Minister Romano Prodi will visit India early next year to carry the dialogue on bilateral trade and economic cooperation between the two countries to higher levels, Italian Minister of State for Foreign Affairs Sen Gianni Vernetti said.

At a meeting with Union Minister of Commerce and Industry Kamal Nath here last evening, the Italian Minister said his country is keen to promote closer trade and economic engagement in India.

With the installation of new government in Italy, there would be further deepening and broadening of bilateral relations, Mr Vernetti said.

The discussions also focussed on possibilities for cooperation between small and medium enterprises (SMEs) of the two countries.

While bilateral trade between the two countries in 2005-06 increased by 18 per cent over last year at 4.3 billion dollar, both the Ministers agreed that there was potential for doing much more.

Foreign Direct Investment (FDI) approved from Italy to India from 1991 to March 2006 amounted to 1.34 billion dollar, of which actual inflows were only 500 million dollar.

UNI CS VJ KN1503