Bilateral trade pacts and free trade agreements with countries in Latin America will play a role in increasing trade with India, according to ambassadors from four South American countries.
While assuring support to inbound investments, providing swift clearances and visas, the ambassadors of Mexico, Peru, Uruguay and Paraguay â€” all football-loving nations â€” said there is growing interest for cooperation in information technology and other spheres such as oil and gas and agriculture.
There is growing interest in oil exploration in Mexico; Reliance Industries and the Jindals have already set up operations there, Mr Jaime Nualart, the Mexican ambassador, said. He said the stable Mexican peso, a growing middle-class and steady economic growth offer opportunities for new companies. The country is amongst the largest exporters of automobiles, flat TVs and mobile phones, including the Blackberry that most executives use.
EEPC India has outlined plans to host a mega event in Mumbai next year and representatives from South American countries would be invited to participate in it.
Â· Annex I â€“ Offer List of MERCOSUR for tariff concession on Indian products in MERCOSUR. It contains 452 products.
Â· Annex II â€“ Offer List of India for tariff concession on MERCOSURâ€™s products in India. It contains 450 products.
Â· Annex III â€“ Rules of Origin
Â· Annex IV â€“ Safeguard Measures
Â· Annex V â€“ Dispute Settlement Procedure (DSP)
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