The Hindu Business Line : Czechoslovakia keen to expand trade contacts

THE Deputy Minister for Industry and Trade of Czechoslovakia, Mr Miroslav Somol, has called for greater efforts to explore and grow the trade potential between the two countries.

Addressing a meeting organised by the Confederation of Indian Industry (CII), Mr Somol underlined the key bilateral projects between the two countries and added that the trade turnover had registered a considerable rise during the last 10 years. The trade turnover stood at $153 million during 2001 while it rose to $230 million during the first 10 months of 2002.

The Minister added that in the recent past the Czech Republic had forged a joint venture in Hosur, for the manufacture of trucks for the Army. Indian companies including BHEL, Texaco, L&T and EIL, also own business stakes in Czechoslovakia.

The visiting dignitary highlighted the dynamic growth of economic cooperation, but added that the economic-commercial cooperation levels did not correspond to the potential and existing possibilities.

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