Shri Kamal Nath, Commerce & Industry Minister, has called for achieving a vibrant trade basket for improving upon the existing bilateral trade ties between India and Syrian Arab Republic, when Mr. Wallid Mouallem, Minister for Foreign Affairs of the Syrian Arab Republic called on him here last evening.
The Commerce and Industry Minister appreciated the help of Syrian authorities in assisting Indian companies like KEC, ABB India, Champdany, BEML and IRCON for getting contracts in Syria and hoped that further help would be forthcoming in future as well.
He also apprised the Syrian Foreign Minister as regards difficulties faced by some of the Indian companies in submitting bids for tenders floated by Syria in view of the problems between Commercial Bank of Syria and some of the Indian banks.
Shri Kamal Nath expressed confidence that the prospects for Indian investments in rock phosphates and fertilisers, cement, power sector, IT, education and agro-industries appear to be bright and with the support of Syrian government such investments would increase in future. During the discussions, the Syrian Foreign Minister offered to export pulses to India.
Exports to Syria during 2006-07 amounted to US $ 408.39 million as against exports of US $ 276.67 million during last year showing a growth of 47.61%.
Imports from Syria during this period amounted to US $ 79.55 million (inclusive of import of petroleum products of US $ 67.49 million).
The prominent export items from India include machinery & instruments, manmade yarn, fabrics, made-ups, manmade staple fibre and drugs, pharmaceuticals & fine chemicals while the major import items consist of petroleum & crude products, fruits & nuts (excluding cashew nuts), raw wool, leather and spices.
Press Information Bureau Government of India
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