Financial Daily from THE HINDU group of publications
Friday, Sep 24, 2004

News
Features
Stocks
Cross Currency
Shipping
Archives
Google

Group Sites

Industry & Economy - Foreign Trade


Chinese province keen on strengthening trade ties

Our Bureau


Members of the Fujian economic and trade delegation headed by Mr Ye Shuangyu (third from right), Vice-Governor, Fujian Provincial People's Government, in discussion with Mr O.P. Goenka, President of FAPCCI, and Mr B. Sankar, Chairman, Foreign Trade Committee, FAPCCI, in Hyderabad on Thursday. - A. Roy Chowdhury

Hyderabad , Sept. 23

FUJIAN Province in China has called for expansion of channel of communication between the province and Andhra Pradesh to improve bilateral trade.

Addressing members of Federation of Andhra Pradesh Chambers of Commerce and Industry (FAPCCI) here on Thursday, Mr Ye Shuangyu, Vice-Governor of the province, said better communication would result better trade relations between the two sides.

Stating that trade volumes between his province and India were very low at $500 million, he asked entrepreneurs from the State to understand things better. "Though the volumes are not big, the growth rate has been very high," he said.

The province focussed on information technology, digital home appliances, oil refining and automobiles. "You have good strengths in IT and biotechnology. Your experience could be of help," he said.

Pointing out that the province had good infrastructure in the fields of power and telecommunications, he said a 1,000-km expressway would be ready by the year-end. "Our province with a coastline of 3,340 km and strengths in infrastructure offer ideal environment for trade," he said.

Mr Shuangyu, who led a high-level delegation, said the province expected to see a total trade volume of $40 billion, with an export component of $20 billion.

Mr O.P. Goenka, President of FAPCCI, said the chambers would send a delegation to the Chinese province to explore business opportunities.

He said bilateral trade volumes were growing at a very high rate; the total volumes touched $6.64 billion in the first six months of this year as against a total of $4.9 billion in 2002. The target for the current year was put at $10 billion.

He said Andhra Pradesh offered opportunities in the fields of bulk drugs, pharmaceuticals, textiles, garments, software and agro-based products.

Mr B. Shankar, Chairman of Foreign Trade Committee of FAPCCI, said the Fujian province was strong both in traditional and newer technology based industries.

More Stories on : Foreign Trade | Industry Associations | Andhra Pradesh

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page



Stories in this Section
Drive to dispel fears on asbestos


Selection body for Competition panel to be reconstituted
Poverty eradication is the challenge for globalised world, says PM
At NYSE, Manmohan holds talks with corporate chiefs
Jaswant traces taxation glitches to economic ills
Jaswant call for `mental reform'
Plea for financial sops to improve environmental standards
FIEO team for SE Asia
Chinese province keen on strengthening trade ties
Kerala's draft policy aims to streamline drugs procurement
Neurology seminar at Kottayam
Cardiac check-up camps
Kanara Chamber eyeing `Metro Mangalore'
Govt to soon decide on ONGC petro retailing — Establishing MRPL as brand may be main option
Mounting steel prices hit infrastructure projects
VAT: States told to consider options on Central sales tax
Net direct tax collections up 47.66%
VAT compensation package base year to be 2004-05
New scheme to enlarge service tax assessee base
Europe looms for new parks likely in TN
Chamber seeks larger VC fund for SMEs
National Geographic Channel open to be on DTH platform
PepsiCo chief coming
New framework for medical device industry
Eco clearance must for new constructions
Rubber plantation strike called off
ICAI meet on global audit opportunities begins today
Nabard entrepreneurship scheme
Fall in groundnut oil prices dampens export optimism
Higher quotes hit guar gum powder exports — Processors blame futures exchanges for high prices
`Exports may touch $75 b this fiscal'
`Curb fake ayurveda centres'



The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright 2004, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line