Round Table aims to boost two-way trade

By Batuk Gathani

BRUSSELS, JULY 19. With the European Union emerging as India's largest trading partner and second largest contributor of foreign investment, special efforts are being made under the auspices of the ``EU-India round table'' to improve mutual understanding through ``enhanced relationships''.

The second two-day meeting of the EU-India Round Table, which concluded on Tuesday, highlighted the Indo-European trade and investment activities. The delegates also focused on media and cultural relations.

The meeting was chaired jointly by Mr. Guke Frerichs, president of the European Economic and Social Committee (ESC), and Mr. N.N. Vohra, director of the India International Centre in Delhi.

The Round Table has called for exchange of journalists and close links between information and media institutions to secure greater flow of news and greater cooperation in music, cinema, television and arts. It wants the EU and the Government of India to allocate sufficient resources for promotion and understanding in these areas.

But the main focus of the debate has been on trade, investment and exchange of technology. Participants agreed that greater trade and higher flow of investment will bring not only increased prosperity but closer political and cultural ties.

The E.U. is India's largest trading partner, accounting for about 25 to 30 per cent of its imports and exports. But from the E.U.'s point of view Indo-European trade is more limited, accounting for only 1.3 per cent of European imports and exports. Existing Indo- European trade is not broad- based. Two-thirds of India's exports to the E.U. are gems, jewellery, textiles, leather and agriculture products. And two- thirds of European exports to India are rough diamonds, machinery and electrical equipment.

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Section  : International
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