Trade & investment are common grounds for Czech-India relation
21 Jan '06
1 min read
Trade and investment are common grounds for Czech Republic and India to develop their relationship and strengthen bilateral trade to $1 billion in future, said Jiri Paroubek, the Prime Minister of Czech Republic.
Addressing a plenary session at CII Partnership Summit, he said though the present trade between the two countries amounts only to $0.5 million, trade and investment are the key factors to increase this figure to $1 billion.
Czech Republic is one of the most modern and liberal industrial countries, where high external trade and industrial productivity drive its economy, Paroubek told the CII members.
Czech Republic became a member of European Union in 2004. From 2010 it would accept Euro as its currency.
In 2005, it registered a GDP growth of 5 percent, three times higher than the average GDP growth rate of EU and its best in the last seven years.
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