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Bilateral trade between India and Italy is likely to cross US $ 5 billion this year. Last year, it has crossed US $ 4 billion. This was indicated during the meeting between Shri Kamal Nath, Union Minister of Commerce & Industry, who is currently on an official visit to Italy and his Italian counterpart, Mr. Claudio Scajola, Minister for Productive Activities, soon after his arrival in Rome yesterday. Both the Ministers noted the development of bilateral trade which showed the advantages of complementarity in a globalising world. Giving due importance to the meeting with his Indian counterpart, Mr. Scajola especially returned early from vacation to get acquainted with Mr. Kamal Nath and have a substantive exchange of views. The discussions at the meeting focused on bilateral issues, the WTO and issues of wider interest to both the countries.
br> Special mention was made of expanding the commercial relationship to include new joint ventures, technical collaborations and investment. Mr. Scajola said that he viewed cooperation with India as a strategic partnership where both countries could jointly work together to expand their economic development and seek avenues all over the world. The sectors which were specifically discussed included design, agro-processing, granite and marble, infrastructure, textiles and marine products.
br> Areas of concern for both sides were also discussed and the Italian side, besides promising to have a fresh look at the question of business visas, also promised greater efforts to resolve the market access difficulties faced by Indian exporters with regard to marine products and sesame seeds. Shri Nath briefed the Italian Minister on new steps taken in India to allow the import of high-end marble,as well as the steps taken to enlarge the access of wines for the hotel and restaurant sector in India which should also provide greater access to the Italian wine sector.
br> The Italian Minister indicated that the growing interest in IT and cooperation in scientific fields encouraged them to look at avenues of having a closer relationship between Indian and Italian Universities to support the growing commercial relationship. Supporting this view, Shri Kamal Nath also mentioned the problems pertaining to visas and work permits of Indian businessmen, particularly software engineers in Italy, the resolution of which would provide a greater impetus to such initiatives. Mr. Scajola agreed with this approach and said that his officials would work towards seeking a remedy for this problem by interacting with the concerned Italian Ministries. It was also proposed that with the growing importance of sectors like tourism and energy, India and Italy should establish joint groups to look at opportunities in these sectors more specifically.
br> Both the Ministers exchanged views on the World Trade Organisation (WTO), the harmonization of European Union (EU) standards on various products and developments of mutual interest within the EU. Shri Nath invited his Italian counterpart to visit India at an early date to further the agenda for cooperation that they have established in this meeting.
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