SME Times News Bureau | 24 Oct, 2018
India and Czech
Republic on Tuesday agreed to boost bilateral economic ties at the eleventh
session of India – Czech Republic Joint Commission on Economic Cooperation
(JCEC) was held on 22-23 October.
delegation was led by Minister of State for Commerce & Industry, Consumer
Affairs and Food & Public Distribution, C. R. Chaudhary. Miss Marta
Nováková, Minister of Industry & Trade of Czech Republic led the Czech
said that India’s growth story and Czech technological expertise and
manufacturing prowess make two natural partners.
He said that
economies of both the countries have significant complementarity which can be
leveraged for mutually beneficial cooperation.
He also held
a meeting with Mr. Martin Tlapa, Deputy Minister, Foreign Affairs, Czech
Republic and discussed various issues including direct flight, long term study
visa, strengthening of mutual Trade and investment relations.
meeting of 11th session of India-Czech Republic Joint Economic Commission was
held simultaneously at Prague. A protocol was subsequently signed by C. R.
Chaudhary and Ms. Marta Novakova, Minister of Trade and Industry, Czech
side stressed that the Czech Government continues to rank India among the
priority countries for promotion of mutual commercial, investment and economic
activities and stated that Czech companies are interested to cooperate with
Indian partners within the framework of the ‘Make in India’ programme.
welcomed the opening of the new Honorary Consulate of the Czech Republic in
Bengaluru and expressed the hope that the process of the establishment of the
Honorary Consulate of the Czech Republic in Chennai would be completed soon.
that the recent growth of global protectionism had negatively affected many
countries and concerted effort is required for a positive outlook for the
shared the view that solutions should be sought for closer economic cooperation
as well as for promotion of multilateral and inter-regional trade.
the importance of a rule-based multilateral trading system embodied in WTO both
sides expressed concern over the current protectionist and anti-globalist
tendencies that threaten free trade.
reviewed developments in their bilateral trade since the 10th
Session of the Joint Commission held in New Delhi in January 2015 and welcomed
the increasing trend in the volume of trade. They appreciated a record level of
trade exchange in 2017 and noted that this exchange was almost balanced.
The two sides reaffirmed their support to finalizing an ambitious and balanced
Broad Based Trade and Investment Agreement (BTIA) between India and the EU.