India and Czech Republic on Monday agreed to liberalise the business visa regime and set a $2-billion target for bilateral trade by 2012 to enhance their economic cooperation and widen the exchange at various levels.
This was decided at a bilateral meeting between Commerce and Industry MinisterAnand Sharma and Czech Republic Minister of Trade and Industry Martin Kocourek. Mr. Kocourek is leading a 50-member high-level business delegation.
$2 b bilateral trade
During the meeting, the two ministers agreed to “take bilateral trade to $2 billion by 2012 from the current level of $1.3 billion, which in itself is an increase of 26 percent from the earlier year,” according to an official statement released after the meeting.
Mr. Sharma was of the view that long-term business visa should be issued on recommendations of industry chambers. “There is a great potential to improve the width and depth of economic engagement between the two countries especially in the areas of information technology, pharmaceuticals, textiles and energy,'' he added.
Further discussion
The Czech Minister agreed that the visa regime needed to be addressed more forcefully and informed the Indian side that next week their government would discuss the Investment Incentive Act for the Czech Republic and corresponding resolution of visa related issues would form part of the discussion.
Commenting on the ongoing India-EU BTIA negotiations, the Czech Minister assured the Indian side his country's support to the negotiations and informed that his country was the liberal wing of EU politicians and fully supported the negotiations.
The Commerce Minister expressed happiness over the fact that the Czech Republic had launched a National Strategy of Competitiveness.
