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Ms Olgica Spevec, Assistant Minister for Trade Policy & Foreign Economic Relations, Ministry of Economy, & Head of the Croatia-India Joint Committee, at a press conference in the Capital on Monday.

NEW DELHI, April 15

INDIA and Croatia have agreed to take steps to further increase and diversify bilateral trade on a mutually beneficial and balanced basis. The bilateral trade was reviewed at the Sixth Session of the Indo-Croatian Joint Committee on Trade and Economic Cooperation held here today.

Both sides have agreed to support the initiatives for setting up of a marketing centre in Croatia to promote bilateral trade between India and Central & Eastern European Countries. Further, both sides have agreed to advise their respective banking agencies to initiate banking arrangements to establish Line of Credit to finance exports of both sides with focus on machinery, industrial manufactures and related services.

Exim Bank of India would explore possibilities of signing credit guarantee agreement with the Croatian Bank for Reconstruction and Development (CBRD). It was also agreed that the Agreement on Avoidance of Double Taxation would be finalised for singing as early as possible.

While addressing the second session of India-Croatia Joint Business Council, organised by FICCI, Mr S.N. Menon, Additional Secretary, Department of Commerce and Chairman of the Joint Committee from the Indian side, strongly urged the Indian businessmen to consider looking at using Croatia as a hub to access East European markets.

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