It’s good news once again as Kuwait Chamber of Commerce and Industry (KCCI) signed a Memorandum of Understanding (MoU) with the Associated Chambers of Commerce and Industry of India (ASSOCHAM) to promote trade, investment, scientific and technical cooperation between the nations.

This will definitely help in enhancing cooperation with each other in the endeavour to establish and develop direct and effective business relations between the exim communities of both the nations.

Now that we have a MoU in place we need to exchange information on general economic status, taxation, investment opportunities and trade policies in order to strengthen mutual trade, technological and industrial relations. The traders from both the countries should now exchange their views pertaining to economic development, foreign trade and investment policies to make this MoU a success.

Statistics show that two-way trade between India and Kuwait stood at $ 430.06 million in 2002-03 and went up to $ 713.99 million in 2004-05.

Although the two countries already have long-established commercial relations, this new MoU will give new impetus in furthering the cause. I have no doubt in my mind that the recent tie-up will go an extra mile in assisting each other in not only enhancing trade and commerce but also in organizing business delegations and facilitating business contacts.

Monthly Economic & Commercial Report on Tanzania for quarter ending June 2006 giving latest updates on developments directly affecting India's foreign trade and investment.

Months after seven South Asia countries that form the South Asian Association for Regional Cooperation (SAARC) revoked the South Asia Free Trade Agreement (SAFTA), economists see that the concerned nations are all set to profit from the agreement.