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India, Spain sign three pacts to enhance trade ties

India, Spain sign three pacts to enhance trade ties
PTI
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First Published: Wed, Apr 22 2009. 07 11 PM IST
Updated: Wed, Apr 22 2009. 07 11 PM IST
Madrid: Giving a major boost to their trade ties, India and Spain on Wednesday signed three key agreements in the fields of tourism, agriculture and renewable energy, paving the way for Spanish technology transfer and investments.
The agreements were inked in the presence of president Pratibha Patil and Spanish prime minister Jose Luis Rodrigeuz Zapatero after the two leaders held wide-ranging talks.
India is keen to acquire renewable energy technology, especially in the wind and solar energy sectors, from Spain which is considered the world leader in the fields. The world’s biggest photo voltaic solar cell-based plant is located in Spain.
Leading Indian wind power company Suzlon is already present in Spain and is seeking the Spanish assistance in the field.
In the tourism sector, Spain, which is the world’s number two destination after France for visitors, India will be seeking assistance of the European country in improving its tourism infrastructure, officials said. India will also be aiming at more visitors from Spain.
In the field of agriculture, India is keen to get food processing technology from Spain to utilise the surplus food items produced by it.
The agreements in tourism and renewable energy fields were signed by minister of state for industrial policy and promotion Ashwani Kumar and Spain’s industry minister Miguel Sabastian.
Indian Ambassador to Spain Sujata Mehta signed the third agreement on agriculture with secretary of state for rural affairs Joseph Jose Puseu.
Eyeing the big Indian market, Spain is keen to invest in the country, the world’s second most populous nation with a stable economy.
Indian exports to Spain comprise textiles, chemicals, steel, auto components and automobiles. It imports chemicals, raw aluminium, pharmaceuticals, petroleum derivatives, auto accessories and electronics for defence industry from Spain.
Spain is India’s sixth largest export market in the European Union, and officials say there is a great potential for expanding Indo-EU trade and investment links.
President Patil is on a three-day visit on the first leg of her week-long European tour that will also take her to Poland.
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First Published: Wed, Apr 22 2009. 07 11 PM IST
More Topics: India | Spain | Trade | Pratibha Patil | Agriculture |