Better cooperation ahead for India and Italy
A meeting has taken place between ministers from India and Italy in order to discuss bilateral trade and investment opportunities.
Anand Sharma, union minister for commerce and industry co-chaired the Indo-Italian Joint Commission for Economic Partnership with Claudio Scajola, Italian Minister for economic development on December 14.
According to Mr Sharma, trade between India and Italy rose to $8.1 billion in the financial year 2008-09 compared with $7.8 billion during the previous year, in spite of the global economic slowdown. “With economy recovery clearly in sight in India, this forum could provide an impetus to take the partnership to the next higher level”, he said.
The two countries hope bilateral trade will rise to $16 billion in the next seven years. Important areas to focus on will include leather, textiles, tourism, agriculture and food processing.
The two parties signed a memorandum of understanding during the meeting which covers trade and investment promotion, missions to trade fairs, training courses, protection of intellectual property rights, arbitration and dispute resolution, and investment.
