Argentina will build 'Bi-oceanic Corridor' for enhanced trade

New Delhi, May 10 (UNI) The Government of Argentina said it plans to build a bi-oceanic corridor, between the Pacific and Atlantic ocean, here today.

''This would help in the facilitation of trade across oceans with Argentina,'' said Federal Council of Investments Secretary General Juan Jose Ciacera.

The delegation of 'Institutional and Business Mission to India' comprising of Cordoba, Entre Rios and Santa Fe made it evident that the booming Indian markets are lucrative for Argentina as it looks to enter the market and tap it's potential.

Indian exports to Argentina amounted 249.6 million dollars in 2005. ''We plan to double the figures by the end of this year. We would not like to quote any figures as this is our first mission to the country,'' said Mr Ciacera.

Discussions with major companies like Tatas and Bajaj are underway for future collaborations.

''We would like to enter the Indian economy but only through Joint Ventures (JVs),'' he added.

There are clear indications, said Mr Ciacera, for Indian investments in the fields of biodiesel and agricultural machinery.

''We would like a technology transfer especially in the fields of auto industry and IT,'' he said.

Mr Ciacera showed interest in Indian wines stating, wines from India were becoming very popular in their country.

On the investment front, restrictions for investing in Argentina are few. ''There are no special certifications required like the ones in India. If your product is of good quality, then we have a market for it,'' said the Secretary.

UNI