ANDHRA PRADESH

`Export target will be met'

TRADE TALK: Union Commerce Secretary G.K. Pillai, flanked by VC & MD of Mahalaxmi Group Y. Harishchandra Prasad and Chairman of Electrical Engineering Division Board R. Radhakrishna Murthy in Hyderabad on Wednesday. Photo: Mohd. Yousuf

TRADE TALK: Union Commerce Secretary G.K. Pillai, flanked by VC & MD of Mahalaxmi Group Y. Harishchandra Prasad and Chairman of Electrical Engineering Division Board R. Radhakrishna Murthy in Hyderabad on Wednesday. Photo: Mohd. Yousuf  

Special Correspondent

Thrust areas in Africa, Latin America

HYDERABAD: Expressing optimism about achieving exports of $ 150 billion ahead of the 2009 target, Commerce Secretary G.K. Pillai, said the Ministry had identified thrust areas in Africa, Latin America and CIS countries for providing new export markets.

Delivering a lecture at the Institution of Engineers on Wednesday, he said $ 125 billion target in exports was expected by the end of 2006-07. The primary focus of the Ministry was on reducing the transaction cost for exports and providing a hassle-free trading environment.

He said introduction of electronic data inter-phase in all sectors of the trading economy was one of the priority items under implementation. It was expected that by the end of December 2007 most export and import documentation would be done electronically.

Trade with neighbouring countries under SAFTA was to be accelerated through reduction in duties and improved infrastructure. Negotiations were on regarding trade and investment agreements with Singapore, Mauritius, ASEAN, Japan, Korea and European Union.

D. Hanumantha Chary, chairman, Andhra Pradesh chapter of Institution of Engineers and Y. Harishchandra Prasad, vice-chairman and MD, Malaxmi Group, spoke.

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