India to open $100mn credit line for projects with Belarus
BY Agencies4 Jun 2015 12:01 AM GMT
Agencies4 Jun 2015 12:01 AM GMT
The Indian government’s decision was conveyed by President Pranab Mukherjee to his counterpart President <g data-gr-id="27">A G</g> Lukashenko as the two countries decided to work together on defence and security issues and agreed on a 17-point roadmap aimed at strengthening mutual trust and confidence.
Briefing reporters after the meeting, Secretary (West) in the Ministry of External Affairs Navtej Sarna said President Mukherjee conveyed to Lukashenko the decision to give status of market economy to Belarus besides extending a line of credit of $100 million for projects that will be jointly identified.
Mukherjee, who arrived here late last night on a two-day visit, was accorded a ceremonial welcome at the majestic Palace of Independence by Lukashenko. After the ceremony, Mukherjee had a one-to-one meeting with Lukashenko.
During the talks with Lukashenko, the President discussed a host of issues which included increasing trade ties between the two countries besides boosting cooperation in the field of mining, education and heavy machinery.
Later, the two Presidents witnessed the signing ceremony of several agreements and Memorandum of Understandings, including agreements between Securities and Exchange Board of India (SEBI) and Ministry of Finance, Bureau of Indian Standards as well as between Prasar Bharti and National State Television.
The agreements signed included the 17-point roadmap which is aimed at strengthening mutual trust and confidence between the two countries and having a strong commitment to develop multi-faceted and <g data-gr-id="25">long term</g> cooperation.
The two countries vowed to work together to ensure full implementation of MoU on defence related technical cooperation and develop a legal framework for bilateral cooperation in the field of security.
Sarna said Belarus has shown interest in joining the ‘Make in India’ programme and use India as a hub to export products to ASEAN countries. He said Belarus is known for its expertise in optical fibre, heavy machinery and defence equipment.
He said during the discussion with the Belarusian President, Mukherjee told him that foreign direct investment norms have been relaxed thus giving opportunities to global companies to come and manufacture their products. He said Mukherjee informed the Belarusian President that the defence sector has also been opened up where Belarus can identify key sectors in which it wants to invest.
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