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India invites Belarus to increase bilateral trade to 1 bln USD

Xinhua, June 5, 2015 Adjust font size:

Indian President Pranab Mukherjee on Thursday invited Belarusian investors to increase bilateral trade to one billion U.S. dollars by 2020.

The bilateral trade is in many aspects far below the potential of the two countries, Mukherjee said during the opening of the Belarusian-Indian Business Forum in Minsk.

"India is emerging as one of the largest economies in the world and one of the fastest growing emerging markets with an average annual growth rate of more than 7 percent over the past decade. There are positive signals that suggest that we may be moving to an even higher growth path," said the Indian president.

Belarusian President Alexander Lukashenko said Belarus and India can double trade in 2016. According to him, bilateral economic relations are gradually shifting from simple trade to industrial cooperation which is of interest for the both sides.

"The potential of our countries allows advancing trade and investment cooperation to a brand-new level," Lukashenko stressed.

Trade between India and Belarus was about 400 million dollars in 2014.

Mukherjee is in Belarus for an official visit on June 2-4. This is the first presidential visit from India to Belarus. The Belarusian president visited India in 1997 and 2007. Endite