India attempts to deepen its economic ties with Guatemala
23 Jun 2014 11:16 PM GMT
In an attempt to strengthen India’s relationship with Guatemala and to achieve the export target of nearly $350 million, the Ministry of External Affairs has decided to set up a solar traffic management system in the Central American country.
The state of the art traffic signaling and management system will boost the trade between India and Guatemala. Already, the MEA has started consultations with private companies who can assist them in executing the whole project under the partnership programme by December this year. In 2010-11, exports to Guatemala stood at $112.68 million, while the import was $40.18 million. Similarly, in 2011-12 the export was $191.29 million, while the import was only $7.33 million.
Considering, a bright prospects of exports in the Guatemala, PM Narendra Modi has shown keen interest in clearing all ‘possible pending projects’ as a part of foreign commitments to Guatemala.
It was also learnt that the ministry is trying to increase its exports — with a target of $350 million (approx) — in major items including iron, steel, cotton, machinery, mechanical appliances, organic chemicals, pharmaceutical products, rubber, vehicles and its accessories and electrical machinery among other things. The items which India imports from Guatemala include wood, wood charcoal, sugar, confectionery, coffee and cardamom.
The MEA has also instructed its Embassy officials in Guatemala for seminars on promoting India and its unique products including garments, carpets and herbs, which could be exported.
‘We share a good relationship with Guatemala and the initiative to set up a high class traffic system, utilising green energy is just the beginning of our foreign commitments. There are many more initiatives on education and health care, which we are going to provide soon. We are also getting feedback from the Indian communities settled there on other areas’ a MEA official said.
The state of the art traffic signaling and management system will boost the trade between India and Guatemala. Already, the MEA has started consultations with private companies who can assist them in executing the whole project under the partnership programme by December this year. In 2010-11, exports to Guatemala stood at $112.68 million, while the import was $40.18 million. Similarly, in 2011-12 the export was $191.29 million, while the import was only $7.33 million.
Considering, a bright prospects of exports in the Guatemala, PM Narendra Modi has shown keen interest in clearing all ‘possible pending projects’ as a part of foreign commitments to Guatemala.
It was also learnt that the ministry is trying to increase its exports — with a target of $350 million (approx) — in major items including iron, steel, cotton, machinery, mechanical appliances, organic chemicals, pharmaceutical products, rubber, vehicles and its accessories and electrical machinery among other things. The items which India imports from Guatemala include wood, wood charcoal, sugar, confectionery, coffee and cardamom.
The MEA has also instructed its Embassy officials in Guatemala for seminars on promoting India and its unique products including garments, carpets and herbs, which could be exported.
‘We share a good relationship with Guatemala and the initiative to set up a high class traffic system, utilising green energy is just the beginning of our foreign commitments. There are many more initiatives on education and health care, which we are going to provide soon. We are also getting feedback from the Indian communities settled there on other areas’ a MEA official said.
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