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India, Latvia focus on boosting bilateral ties

India, Latvia focus on boosting bilateral ties
November 04
11:35 2017

New Delhi, Nov 4 India and Latvia on Friday discussed ways to boost bilateral ties during a meeting between Prime Minister Narendra Modi and his Latvian counterpart Maris Kucinskis.

“The two leaders held discussions on various aspects of bilateral ties as well as important regional and global issues of mutual interest,” the External Affairs Ministry said in a statement.

“The two leaders focused on building closer cooperation in the areas of trade and investment, food processing, and culture among others,” it said.

“India’s economic ties with Latvia have strengthened in recent years with growing awareness about the prospects in food processing sector as well as other opportunities in the infrastructure sector.”

A protocol amending and supplementing the Agreement between India and Latvia relating to air services was also signed during the meeting.

Bilateral trade between India and Latvia stood at about $141 million in 2015-16. Major Indian exports are tea, coffee, tools, pharmaceuticals, chemicals, garments, iron & steel etc and imports include chemicals, fertilizers, iron and steel and machinery.

There is scope for growth of textiles, agro-products, gems and jewellery, chemical dyes and pharmaceuticals.

Earlier on Friday, Kucinskis attended the World Food India event that was inaugurated by Modi.

A 16-member business delegation from seven Latvian companies is participating in Wood Food India 2017.

“Latvian companies exhibiting at this prestigious event represent sectors such as dairy, fish processing, confectioneries and mineral and drinking water,” the External Affairs Ministry statement said.

Kucinskis, who arrived here on Thursday on a four-day visit to India, will leave for Mumbai on Saturday where he will inaugurate the an honorary consulate of Latvia and will participate in the Latvia-India Transport and Logistics Conference titled “Latvia: India’s Gateway to Europe and CIS countries”

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