FICCI inks pact with Chinese trade bodies

Wednesday, 25 June 2003, 07:00 Hrs
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BEIJING: The Federation of Indian Chambers of Commerce and Industry (FICCI), a leading industry lobby group, Monday announced the signing of agreements with two Chinese trade bodies to promote cooperation and investment.

Yogendra Kumar Modi, senior vice president of FICCI, signed a memorandum of understading with the China International Trade Research and Training Centre for Asia Pacific Region to promote economic and trade cooperation between China and India.

A 20-member FICCI delegation is visiting China as part of a high-level Indian business delegation accompanying Indian Prime Minister Atal Bihari Vajpayee, who arrived in the Chinese capital Sunday on a six-day visit.

The second agreement was signed between FICCI and The Service Centre of Beijing Haidian District for Foreign Investment here. The pact is aimed at strengthening cooperation in the area of information technology.

"There shall be regular exchange of information and views on expansion of the cooperation on IT and joint investment," said a FICCI statement.

"Both the parties have agreed to help each other organise exhibitions, fairs, conferences and share market information along with information on existing laws and regulations pertaining to foreign trade and investment in the two countries."

Amit Mitra, secretary general of FICCI, said the time is ripe for strategic partnerships in some key areas between India and China.
Source: IANS
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