Thursday, April 23, 2009

India, Spain Indication Operate Agreement - April 23, 2009

In order to boost the bilateral ties, India and Spain signed a trade agreement on April 22, which is expected to give more scope in six crucial sector. The sectors are infrastructure development as well as renewable energy, agriculture, research and development, tourism, and cooperation in Latin America, where Spain has a sphere of influence. However, the focus is on technological exchange as well as tapping each other''s areas of expertise.

The agreement was done in the presence of President Pratibha Patil and Spanish Prime Minister Jose Luis Rodriguez Zapatero, and the respective government and trade representatives. In that business meeting, Ms. Patil noted that the bilateral trade was growing and crossing $ 4.5 billion mark. She also said that the Spanish enterprises are known for executing large-scale infrastructure projects and invited them to make use of the opportunities India presents, in particular through small and medium enterprises.

On the other hand, Ashwani Kumaar, Minister of State for Industrial Policy and Promotion, while addressing Indian mediapersons, described the presidential visit as highly successful. However, three framework agreements were signed in the fields of renewable energy as well as agriculture and tourism.

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