Indo-Romania ties to benefit SMEs | SupportBiz


Indo-Romania ties to benefit SMEs

Bilateral trade grew 6% in the current financial year

Jyotiraditya M Scindia, India's Commerce & Industry Minister of India, met Ion Ariton, Romania's Economy, Trade & Business Minister at Bucharest recently. The two ministers attended the 17th Joint Economic Committee (JEC), wherein both countries have agreed to facilitate institutional co-operation, investments, joint ventures and transfers of technology in the time to come, Biz2Credit reported.

India and Romania have also agreed to share information with business delegations, in a bid to help small and medium enterprises (SMEs) in both countries. The meeting was attended by businessmen from diverse fields including the oil and natural gas sector, information technology, power equipment, textiles, supply chain management, alternative energy, pharmaceuticals, tourism and electric buses.

Scindia and Ariton are hopeful of doubling trade and economic co-operation between India and Romania by the year 2015. Bilateral trade grew 6% in the current financial year, despite of the economic crisis in the European Union. Scindia has invited firms in Romania to participate in the ‘India Show’, which is scheduled to be held in the Czech Republic in October 2012. Around 150 companies are anticipated to participate in the show.