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India aims to triple trade with Argentina PDF Print E-mail
Monday, 11 February 2008

Agence France-Presse .

Buenos Aires India wants to triple its bilateral trade with Argentina in the next four years to more than three billion dollars, a junior Indian minister said Friday during a visit to Buenos Aires.

We have set a target of 3.0 billion by 2010. We hope that we will be able to achieve it ... but we want more, we want to increase by three times in the next four years, said minister of state for external affairs Anand Sharma. We are identifying more areas of partnership,Sharma told AFP, citing his country s particular interest in bio-technologies and underscoring his country s will to boost its investments in Argentina.

The balance of trade currently favors Argentina, which exports 800 million dollars of products 80 per cent of which is soybean oil to India, the minister said.

Indian exports to Argentina total around 300 million dollars. India also has around 800 million dollars in investments in Argentinas steel sector, software with the Tata Consultancy Group, and pharmaceutical and agrochemical industries.

He indicated that a forum of business leaders from the two countries was due to convene in the near future in Argentina. Sharma arrived in Buenos Aires Thursday and held discussions with his Argentine counterpart Jorge Taiana, and on Friday met with Argentina s deputy foreign minister Roberto Garcia Moritan.

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