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India invited to invest in Bosnia and Herzegovina

Written by: Staff

New Delhi, Sep 12 (UNI) India has been invited to invest in Bosnia and Herzegovina, especially in the textile, auto components and pharmaceutical sectors as well as in infrastructure development projects being undertaken in that country.

This is indicated in the Protocol of the Second Session of the Joint Trade and Economic Cooperation (JTC) between India and Bosnia and Herzegovina, which was signed here last evening.

Both sides resolved to strengthen the bilateral economic and commercial ties.

The Joint Committee meeting was co-chaired by Mr Rahul Khullar, Additional Secretary in the Ministry of Commerce and Industry and Mr Slobodan Ecimovic, Deputy Minister, Ministry of Foreign Trade and Economic Relations, Bosnia and Herzegovina.

The bilateral trade was 1.72 million dollar in 2005-06 and the major items of India's exports to Bosnia are machinery and instrument, drugs, pharmaceuticals and fine chemicals.

The focus of discussions was on providing a framework for growth of trade and investment. This framework would be provided through agreements/ Memorandum of Understandings, covering Investment Protection and Promotion, exchange of trade related information, banking arrangements, export credit guarantee arrangements, bilateral Air Services Agreement etc.

Both sides expressed satisfaction with the deliberations of the Joint Committee and agreed to hold the next session of JTC in Bosnia at a mutually agreed date.


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