IMC signs MoU with PAIiIZ for mutual assiatance and co-operation

Mumbai, Dec 6 (UNI) Indian Merchants' Chamber (IMC) has signed a Memorandum of Understanding (MoU) with the Polish Information and Foreign Investment Agency (PAIiIZ) for mutual assistance and co-operation.

IMC President Nayan Patel and PAIiIZ's Vice President Wojciecch Szelogowski signed the document at the end of a well-attended seminar on ''Doing Business with Poland'' at IMC's hall in South Mumbai yesterday.

Mr Patel said the IMC has always acted as a catalyst in fostering Indo-Polish trade and economic co-operation by receiving and sponsoring bilateral trade delegation. Besides, IMC has signed MoU with Business Promotion Centre Ltd Poland and Polish Chamber of Foreign Trade, Warsaw (now known as Polish Chamber of Commerce).

''Our MoU with PAIiIZ will further reinforce our relationship with Poland,'' he said.

Mr Patel said that Indo-Polish bilateral trade had reached its highest level at USD 564 million last year.

There are imporatant Indian investments in Poland, particularly in sectors like IT, Electronics, Pharma, Steel, Agricultural equipment, Healthcare and Packaging. There are Polish investments in India in sectors like Pharma and Personal Hygiene products. Poland was also co-operating with India in the fields of Power, Coal, Mines, Railways, Ships and Oil and Gas exploration.

''There are many other areas in which the two countries compliment each other and that can be fruitfully exploited by businessmen for cooperating in third countries,'' he said.

Responding to him, Wojciech Szelogowski also said the objective of PAIiIZ delegation which he was leading, was to highlight the investment opportunities in his country and to brief Indian investors about the taxes, SEZ incentives, public aid and legal aspects of setting up business there.

''We invite you to invest in our country for marketing your products to 400 million consumers in Europe. We assure you that your investment in areas of Manufacaturing, Electronic, Hardware, Chemicals, Auto components, Foods, Agro products and IT have great prospects,'' he added.

UNI AR KU SKB1808