Date:17/09/2004 URL: http://www.thehindubusinessline.com/2004/09/17/stories/2004091701111900.htm

Back Sweden for stronger trade ties with India

Our Bureau

Hyderabad , Sept. 16

SWEDEN is organising a seminar in New Delhi next month seeking investments and imports from India.

According to Ms Inga Eriksson Fogh, Ambassador of Sweden, the seminar would explore means on how to improve imports from India.

Addressing members of Federation of Andhra Pradesh Chambers of Commerce and Industry (FAPCCI) here on Wednesday, she said imports from India stood at just $300 million in the last 12 months as against exports of $ 1.1 billion, forming 1 per cent of total Swedish exports.

The Swedish Ambassador was in the city to address the Right Livelihood Award Foundation Symposium.

She dealt the issue of bilateral trade and cooperation at both the meetings.

Referring to earlier Government's decision to put a cap on grants from smaller countries at state-to-state level, she said Sweden continued to assist institutions through civil society strengthening programmes.

"India is very much on Sweden map," she said.

"Our Prime Minister, in his declaration on Tuesday, said that Sweden would deepen its cooperation with India," she pointed out.

Swedish International Development Cooperation Agency (SIDA) is working on an action plan to examine cooperation. The report would be ready by the year-end.

"We are further looking at EU-India Summit to be held in October at The Hague," she said.

Asking the Indian entrepreneurs to invest in her country, she said Sweden offered good environment and skilled human resources. The geographical location within the 25-member EU would be an added advantage.

Stating that some Swedish multinationals had established roots in India, she said some others found it difficult doing business with India. Red tapism was one of the issues.

Mr O.P. Goenka, President of FAPCCI, said Sweden ranked 20th in the list of countries that had invested in India during 1991-2002 with a consolidated investment of $440 million.

He said potential areas for bilateral cooperation could be biotechnology, bioinformatics, healthcare, telecom, information technology and heavy engineering.