Date:20/02/2005 URL: http://www.thehindubusinessline.com/2005/02/20/stories/2005022001520300.htm

Back FAPCCI, Austrian chamber sign pact to boost trade

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The President of Austria, Dr Heinz Fischer, and his wife, Ms Margit, being welcomed by the Andhra Prasdesh Governor, Mr Sushil Kumar Shinde, and the Chief Minister, Dr Y .S. Rajasekhara Reddy, in Hyderabad on Friday. - Satish. H

Hyderabad , Feb. 19

THE Federation of Andhra Pradesh Chambers of Commerce and Industry (FAPCCI) has signed an agreement with the Austrian Federal Economic Chamber (Vienna) here on Friday.

The memorandum of understanding is aimed at "fostering friendship and to promote trade, investment, economic and human resource development. It also called for technical and scientific cooperation."

Mr Christoph Leitl, President of the Austrian Federal Economic Chamber, and Mr O.P. Goenka, President of FAPCCI, signed the agreement.

Dr Leitl was part of a high-level Austrian delegation led by its President, Dr H. Fischer, a Fapcci spokesman said.

The MoU sought to promote exchange of visits by industrialists and businessmen. The two chambers might set up joint working committees to look into specific issues. They would also work on forging joint ventures, tie-ups, technology transfers, seminars and exhibitions.

Earlier, Dr Walter Koren, Director-General of the Austrian chamber, said his country would offer latest technology to Indian industry. "We are open for cooperation," he said.

Mr Goenka said India in general and Andhra Pradesh in particular offered a very big market for Austrian products.

Infrastructure development, energy, health, telecommunication, environment, electronics and computer software were some of the potential areas where both the countries needed to work towards intensifying the relationship and possible joint ventures, he said.

Mr Leitl told Business Line that infrastructure projects, especially in irrigation, sewerage and environment technologies and setting up an hydropower plant were on top of the agenda for the Austrian delegation, which heads to Bangalore and Mumbai in the next few days. An MoU in the health sector and about 50 joint ventures in various sectors are in various stages of progress.