Search Result for : Economic Cooperation

The Dollar Business Bureau The Cabinet on Wednesday approved the trade agreement between India and Ethiopia for boosting and promoting trade and economic cooperation between the two countries. “The Union Cabinet, chaired by the Prime Minister Narendra Modi, has given its ex-post facto approval for the trade Agreement between India and Ethiopia for strengthening and promoting trade and economic co-operation,” said an official statement. The trade Agreement between the two countries was signed on October 5, 2017 during the visit of President Ram Nath Kovind to Ethiopia. The new trade agreement will replace the present trade agreement, which was signed between India and Ethiopia in 1982. The new Agreement will provide for all the necessary steps to promote trade, investment economic and technical cooperation ...

The Dollar Business Bureau Commerce and Industry Minister Nirmala Sitharaman reached Shanghai on Monday for attending the two-day meeting of trade ministers of BRICS (Brazil, Russia, India, China, South Africa), starting on Tuesday. During the meeting, it is expected that Sitharaman would raise concerns over the increasing trade deficit of India with its neighbour China. The seventh meeting of five-nation bloc – BRICS, will discuss on expanding cooperation in e-commerce in the forthcoming annual meeting, the Ministry of Commerce (MOC) of China said. Cooperation in e-commerce such as in the fields of payments and logistics, is fast emerging among the BRICS members, with several products of the member-nations gaining traction in China, said Zhang Shaogang, Director at Department of International Trade and Economic Affairs with China’s MOC. “Economic and technological ...

The Dollar Business Bureau  Finance Minister Arun Jaitley will be travelling to Paris to sign the multilateral convention of Organisation for Economic Cooperation and Development (OECD), next week. The convention is aimed at checking cross-border evasion of taxes by multinational companies (MNCs).  During the 3-day visit beginning June 7, the Finance Minister will also join the Ministerial Council Meeting, which will be attended by ministers from OECD countries and other partner countries to deliberate upon issues of global importance.  Earlier this month, the Union Cabinet had given the approval for signing the OECD’s multilateral convention.  The convention is a result of the base erosion and profit shifting (BEPS) project between OECD and G-20, to tackle what is used by MNCs via tax planning strategies by abusing ...

The Dollar Business Bureau Chinese Premier Li Keqiang's upcoming visit to Australia is likely to see the already flourishing economic cooperation between the two countries make further progress. Officials anticipate new opportunities for strengthening of bilateral cooperation in China's pet modern Silk Road project, comprising of the 21st Century Maritime Silk Road and the Silk Road Economic Belt. China, as is the case with most countries, is also the largest trading partner of Australia. In 2015-16, China accounted for 26.5% of Australia's total merchandise trade. While exports to China made up 30% of its total exports, imports from China stood at 22.6% of total imports, a share greater than any other country. Last year, their bilateral trade reached $108 billion. China-Australia Free Trade Agreement (ChAFTA), a landmark trade facilitation agreement between the ...

The Dollar Business Bureau   US President Donald Trump’s views of Indo-US relationship is very positive and is keen to take the bilateral relationship forward, Foreign Secretary S Jaishankar said, after he met the senior cabinet officials of the US government.  Speaking with the Indian reporters on the margins of the India-US Strategic and Commercial Dialogue, which was started during the ex-President Barack Obama-led administration, Jaishankar said: "Optimistic" about the continuation of the upward trajectory of the bilateral relationship. Overall, (the) sense was that the Administration has a very positive view of the relationship, positive view of India. We saw a lot of goodwill and a lot of interest in taking the relationship forward.”  The two countries are currently working on the nitty-gritty ...

The Dollar Business Bureau The Australian High Commissioner Harinder Sidhu pitched for strengthening economic cooperation with India. Addressing the media after the Confederation of Indian Industries (CII) meeting in Chandigarh on Monday, Harinder stressed that both countries can work together in several sectors such as dairy, scientific research, sports, agriculture and education. India is the ninth largest trading partner and the fifth biggest export market of Australia. The bilateral trade between both the countries has touched Australian $20 billion (roughly around $15 bn) last year. Though these numbers are good, there is still scope for further growth with better economic relations. Mentioning that the bilateral trade between Australia and China is ten times more than its trade with India, she said that the economic relationship ...

The Dollar Business Bureau   The Japanese government has committed to lend an amount of approximately Rs.14,251 crore (JPY 242.2 billion) to India under the official loan development assistance (ODA). The notes for the same were exchanged between Mr. Kenji Hiramatsu, Ambassador of Japan to India and Mr. S. Selvakumar, Joint Secretary, Department of Economic Affairs, Government of India. The ODA loan assistance has been confined to assist loans for various projects in India - The Transmission System Strengthening Project in Madhya Pradesh for JPY 15.45 billion, North East Road Network Connectivity Improvement Project for JPY 67.1 billion; Odisha’s integrated sanitation improvement for JPY 25.7 billion and the Jharkhand Horticulture Intensification by Micro Drip Irrigation Project for JPY 4.65 billion are the ...

Deepak Kumar | The Dollar Business    With an aim to bolster economic cooperation with its long-term partner, the French government on Monday announced that it will invest over $10 billion over the next five years in the Indian market. “In the last five years, the French companies have invested more than $1 billion per year in India, and we estimate that they will continue to invest at least over $10 billion over the next five years,”  France’s Finance and Public Accounts Minster Michel Sapin said at the Indo-France interactive session in New Delhi. “The Majority of these investments are meant for the industrial sector, and this makes France a major player in the Indian Prime Minister Narendra Modi’s Make in India ...