India, Ecquador to boost cooperation, trade

New Delhi, July 18: India and Ecquador today agreed to strengthen cooperation in various sectors including energy, pharmaceuticals and trade and expressed commitment to UN Security Council (UNSC) reforms and South-South Cooperation.

The two countries also signed four pacts including for cooperation between their respective Foreign Services Institutes, ''gainful employment'' of dependents of embassy staff, boosting educational and cultural ties and exemption of visa requirement for diplomatic and official passport holders.

Ecquador Foreign Minister Francisco Carrion Mena and Minister of State for External Affairs Anand Sharma who held talks here today, said at a joint press conference that the two countries had identified various sectors including energy, petroleum and pharmaceuticals for cooperation.

The Ecquador Foreign Minister who is on a five-day official visit to India, will meet Petroleum Minister Murli Deora and Commerce and Industry Minister Kamal Nath tomorrow.

A Joint Communique issued after the talks said the two countries had agreed to promote and diversify trade and encourage investment in collaboration with the private sector.

The two countries agreed to explore the possibility of Agreements to facilitate trade and reduce tariff. The Ecquador Minister assured that he would consider India's request for simplifying and liberalising the procedures for business visas to Indian visitors. They also agreed to sign two Memoranda of Understanding (MOUs) between the two governments and the oil and gas public sector companies.

The two sides agreed to sign a Bilateral Agreement for Protection and Promotion of Investments, encourage setting up of Indian pharmaceutical plants in Ecquador.

The Ministers also renewed commitment to the UNSC reforms and to the newly-formed UN Human Rights Council.

India expressed support to Ecquador for joining the G-20 while both Ministers reaffirmed the need to reach agreements at the Doha Round consistent with the negotiating mandate for substantial and effective reductions in trade distorting domestic support, elimination of all forms of subsidies and substantial improvement in market access particularly in products of export interest to developing countries.

The two Ministers reaffirmed the need for operationally effective special and differential treatment for developing countries to be integral to all aspects of the outcome of the Doha Round.

UNI