Croatia Invites India To Set Up Trade Centre

Addressing a press conference in the capital yesterday, Croatian business delegation leader Savko Begic said his country, a major manufacturer of ships, could meet Indias demand for additional dead weight tonnes (dwt) capacity in the shipping sector for increasing its foreign trade.

Noting that Croatia has supplied most of the ships for India, he said the country has a capacity of manufacturing ships with a combined capacity of one million dwt per year.

The high-level Croatian business delegation currently on a tour to India has also invited Indian investments in its infrastructure sector.

The Croatian side drew Indias attention to the on-going privatisation and urged Indian entrepreneurs to participate in the privatisation process through joint ventures or other forms of cooperation. Commerce ministry joint secretary Ashok Pradhan signed the Indo-Croatian joint committee protocol agreement.

 

He said the level of bilateral trade between the two countries stood at about $30 million and that the two countries had agreed to diversify trade.

Pradhan said a bilateral investment protection agreement and a double avoidance taxation treaty would also be signed between India and Croatia.

The two sides are negotiating an agreement on maritime transport.

The possibility of Croatian import of Indian textiles and further export of the same products after value addition to European countries is also being explored.

Croatia also sought Indian cooperation in the building of its railway network and in chemicals, fertilisers, petro-chemicals, drugs and pharmaceuticals.

Croatia has already attracted investments worth over $2.5 billion in the last few years.

He said the setting up of a warehouse in Rizeka will help export Indian goods from the city as it can serve as a corridor to Europe.