India invites Columbian investment in leather sector

New Delhi, May 1 (UNI) Inviting investment in leather sector, India urged Columbia to speed up finalisation of bilateral investment promotion and protection agreement and double taxation avoidance agreement to boost trade and investment relationship between the two nations.

During a meeting with Colombia Industry and Tourism Minister Luis Guillermo Plata Paez here last evening, Commerce and Industry Minister Kamal Nath also sought his cooperation for the developing countries in World Trade Organisation and other multilateral fora.

Talking of tremendous potential in leather sector, he invited the Colombian entrepreneurs to set up joint ventures and technical deals with Indian companies.

The two countries held the view that Indo-Colombian trade, which was 653 million dollars in 2006-07(exports 576 million and imports 76.56 million), has the potential to grow manifold.

UNI SAA MP RK1750