India and Ukraine on Tuesday discussed bilateral trade, highlighting the importance of exports and imports between the two countries and cooperation in the field of small and medium entrepreneurship.
In order to promote trade, both Sides should share the mandatory inspections’ / regulations’ requirement to be fulfilled at the time of exporting / importing of any product so that any delay related to such inspection could be reduced and it will also create a positive atmosphere for doing business, an official press release said.
The discussion was part of the 4th Meeting of India-Ukraine Working Group on Trade and Economic Cooperation (IU-WGTEC), under the India-Ukraine Inter-Governmental Commission on Trade, Economic, Scientific, Technical, Industrial and Cultural Cooperation held in New Delhi.
Indian delegation was led by Bidyut Behari Swain, Additional Secretary, Foreign Trade (CIS) while the Ukrainian Side was led by Oleksiy Rozhkov, Director of Directorate for International Trade and Economic Cooperation and European Integration of the Ministry of Economic Development and Trade of Ukraine.
A protocol was signed at the end of the meeting.
The protocol deals with review of trade, cooperation in the field of small and medium entrepreneurship, cooperation in the field of technical regulation (standardization, metrology, certification, conformity assessment), public-private partnership (PPP) and investment, etc.
India and Ukraine have identified potential sectors where both Sides could engage in bilateral trade since presently the share of trade between both Sides is quite low as compared to total trade made with the rest of the World.
Both Sides agreed to share the list of products which they would like to trade.
In order to promote trade, both Sides should share the mandatory inspections’ / regulations’ requirement to be fulfilled at the time of exporting / importing of any product so that any delay related to such inspection could be reduced and it will also create a positive atmosphere for doing business, the press release said.
Published On : 02-04-2019
Source : SME Times
