The Dominican Republican has inked an agreement for cooperation with Kerala, with business leaders from the Caribbean country saying it could serve as a gateway for India to the Latin American market.
Visiting Dominican Republic Minister for IT Eddy M. Martinez, who signed the memorandum of understanding (MoU), said: "The key areas of cooperation that we are looking forward to from here are in the fields of IT, education and infotainment."
Martinez arrived in the state with representatives of the government and the private sector for a three-day visit to interact with industrialists and officials here.
Kerala Minister for Industries V.K. Ebrahim Kunju, as a goodwill gesture, offered free space for the republic at an industrial park of the Kerala Industrial Infrastructure Development Cooperation (KSIDC).
"We take this opportunity to extend our full support to set up technology parks and theme-based parks in your country and medical tourism is one sector which we are known for and we could work on this too," said the minister.
Jay Nair, president of the Indian Chamber of Commerce in the republic, said the Caribbean country could well become the gateway to the Latin American market for India.
"The first business opportunity we could offer to businessmen in Kerala is that like in Kerala, coconuts are in plenty in the Republic. We would like someone to help us use the coconuts more productively," said Nair, who is a Keralite settled in the Republic for several decades.
Marcos Troncoso, president of a private sector telecom company in the republic, said one area where Kerala could help was e-learning.
"Education is one sector that we are really interested in and we are on course to set up two new cyber parks. Joint ventures with companies here could really help because the potential is tremendous in the US and Latin America," said Troncoso.
"Globalisation has not caused any problems for us and we have the best advantage because for all goods and services from our country to the US as no duty is imposed," Martinez said.
"We seek your help because our economy is in a transition phase and we want to cooperate with the best and we have identified India and Kerala."
Indo-Australia committed to resolve agri-trade issues
Publish Date : 3/3/2007 7:21:00 AM
The agri-trade has become a very contentious issue in the World Trade Organisation (WTO), but India and Australia have agreed to resolve issues coming in the way of trade in agricultural goods by setting up a mechanism.
RBI to absorb more liquidity to contain inflation
Publish Date : 3/3/2007 7:11:00 AM
In a bid to further contain inflation, Reserve Bank of India today announced a modified market stabilisation scheme (MSS) and liquidity adjustment facility (LAF) to suck out Rs 11,500 crore from the system.
Gold and Silver prices turn distinctly weak
Publish Date : 3/3/2007 7:03:00 AM
Both the precious metals today turned distinctly weak on the bullion market as silver plunged by Rs 570 and gold by Rs 155 on heavy stockists offerings tiggered by sharp fall in the global markets.
Further fall in gold and silver prices
Publish Date : 3/2/2007 7:06:00 AM
Both the precious metals continued to decline on the bullion market here today on sustained offering from stockists in view of fall in the international markets.
Rupee ends marginally up at 44.26/27 a dollar
Publish Date : 3/2/2007 7:03:00 AM
The rupee today ended marginally higher at Rs 44.26/27 a dollar, supported by a smart recovery on equity markets coupled with fresh exporters' dollar sales.
Hyundai domestic sales up 74 pc in Feb
Publish Date : 3/2/2007 7:01:00 AM
Hyundai Motor India today reported a 74 per cent increase in its domestic vehicle sales during February at 15,459 units compared to the same month last year.
Hutchison Telecom files caveat fearing legal move by Essar
Publish Date : 3/2/2007 6:59:00 AM
Hong Kong-based Hutchison Telecom has filed a caveat before the Bombay High Court to ensure that its plea is heard in case Essar moves the court, challenging the the foreign partner's decision to sell stake to Vodafone.
Skoda slashes car prices up to Rs 24,000
Publish Date : 3/2/2007 6:56:00 AM
As car makers Maruti and Hyundai announced a hike in prices, luxury car maker Skoda Auto today slashed prices across all models by up to Rs 24,000 citing reduction in customs duty on imported car parts in the Budget.
Bond prices continue to decline
Publish Date : 3/1/2007 8:30:00 AM
Government bond prices continued to decline on persistent selling while call rates eased in view of ample liqudity in the system.
India should be more conscious of global developments: RBI
Publish Date : 3/1/2007 8:19:00 AM
The Reserve Bank of India today said the steep fall in Indian stock markets was a contagious effect of plunge in overseas bourses and the country should have strong market and regulatory mechanism to avoid disruption in markets.
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