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The Engineering Export Promotion Council (EEPC) has signed a Memoranda of Understanding (MoU) with the China Chambers of Commerce for the import and export of machinery and electronic products. The agreement was recently signed in Beijing when a high level trade delegation from EEPC visited that country to cover exchange of trade related information and trade dispute settlement mechanism also. This was informed by the Shri Rakesh Shah, Chairman of EEPC while briefing the press here today. “China is considered a biggest competitor of India in manufacturing and engineering industry and the visit is an eye opener to Indian manufacturers-exporters” he said.
Shri Shah informed that to further penetrate the Chinese market the EEPC has decided to set up a dedicated China Desk to exchange trade related information and to undertake sector specific studies to ascertain the market for various products there. The Council also has plans to take sector specific exhibitors to China to participate under the India Pavilion in mega industrial fair in Shanghai later this year. Meanwhile under the Government’s Look East policy and Focus ASEAN programme, the EEPC has generated business enquiries worth US $ 4 million during the recently held INDIATECH exhibition in the Indonesian Capital of Jakarta.
An Indo CIS (Commonwealth of Independent States) buyer seller meet was held under the auspices of EEPC here today. The meet aims to provide an opportunity to prospective importers from the CIS region to interact with Indian counterparts about their requirements. Major product sectors represented in the meet are Construction machinery, automobile spare parts, agricultural and food processing machinery and electrical home appliances. Shri MS Rao, joint Secretary in the Ministry of Commerce in his key-note address said that though India’s relations with the CIS countries dated back to the silk route period, the present Indo-CIS trade was not appreciable. Reminding that the CIS region is rich in natural resources, he said that cooperation with India in the field of technology can help unlock the wealth of the region. He further informed that the bilateral commissions of the government will review the restrictive provisions of the visa regime and extend the lines of credit to exporters. The Council plans to hold such buyer seller meets in Mumbai and Chennai soon.
India’s exports of engineering goods to CIS countries amounted to US $ 87.66 million in the year 2003-04.
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