Indo-Afghan trade to touch $700M by 2010

Indo-Afghan trade to touch $700M by 2010

By agencies   |   Wednesday, 12 April 2006, 07:00 Hrs
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NEW DELHI: Industry body Assocham said that bilateral trade between India and Afghanistan can touch $700 million by 2010 and suggested the government to generate intensive cooperation for hydrocarbon resources to achieve this target.

Presenting a paper on ‘Afghanistan: A bridge between India’s increased trade and economic interactions with Central Asia’ the association stated, “The entire region is full of hydro-carbon resources and the potential of the region can well be explored by upstream companies in oil sectors like ONGC and Oil India Limited.”

Both the countries can gain from trade and the volume of trade can reach 700 million mark by 2010 from the current level of less than $500 million, it added.

Afghanistan can also become a bridge to take forward India's economic relationship with Central Asian, Caspian Sea region and the CIS countries, it said.

The chamber said both the countries have good potential in sectors like healthcare, medical services, agricultural research, education and business opportunities and they should be explored.

The association’s President, Anil Agarwal said, “The two countries should also consider reductions and elimination of obstacles to bilateral trade so that their economic ties expand their existing volume and also diversify their trade basket by giving one another preferential tariff regime.”

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