'India SMEs have immense opportunities in Tajikistan'

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Namrata Kath Hazarika | 29 May, 2009
Indian SMEs have business opportunities in textiles and information technology in Tajikistan, said Saidov Saidbeg, Ambassador to India, Republic of Tajikistan on the sidelines of a meet organized by PHD Chamber in New Delhi on Wednesday.

He said that India has potential opportunities for trade in Tajikistan on major items such as, pharmaceuticals, rice, coffee, meat, textiles, and for production of new technology. This year, 90 percent of Tajikistan's total imports were from India.

However, Tajiskistan has potential opportunities for products such as aluminum, cotton, fruits, electricity, vegetables oil, and textiles. According to a report of the Ministry of Economic Development and Trade, the export-import between Tajikistan and India in 2008 was more than $60 million. The ambassador also mentioned that the trade between the two nation is expected to reach $100 million in next two to three years.

He also mentioned that India and Tajikistan can work collaboratively in the bilateral level. The nation (Tajiskistan) can make presentation via inviting some business communities from India, which will help Indian investors to explore opportunities in Tajikistan with full privilege.

In fact, Indian companies such as MMTC and the State Trading Corporation of India Ltd (STC) have already proposed setting up joint ventures in Tajik and requested an early response to their proposal. However, the Indian side referred to the proposal of MMTC for exploration of gold deposits and setting up of joint venture in gold mining, and to the proposal of STC to set up steel plant using available metal scrap in a phased manner, in association with reputed Indian companies forwarded to the Tajik Side through the Embassy of India.

The interest of BHEL and NHPC to participate in the reconstruction hydroelectric power plant funded through Government of India in 2008 has already started functioning.

The ambassador also pointed out that the Tajik side expressed desire that Indian companies should set up a coal based power plant in Tajikistan. Indian companies would be willing to look at this opportunity and discuss the technical and financial modalities, he added.