India is likely to witness some important developments in its foreign relations in the coming few months, facilitating domestic businesses. India’s economic tie with Turkey is set to improve soon.
4-day fair known as India Show in Istanbul, the Turkish capital. In a bid to strengthen trade ties with Turkey, the Indian Commerce Ministry has arranged a
Scheduled to be held during February 3-6, 2011, the event organised by EEPC India will give 150 Indian engineering-based exporters, including several SMEs, a chance to showcase their projects and products,here, they will sign a memorandum of understanding between the Istanbul Chamber of Commerce and the Indian government.
By tapping the Turkish market, the small Indian engineering-based exporters can get entrée to the growing markets of the Middle East and Eurasia.
As far as expanding trade ties with Japan is concerned, Indian Commerce and Industry minister Anand Sharma recently said that India and Japan will possibly ink the Comprehensive Economic Partnership Agreement (CEPA) within a month’s time.
The treaty will help lower tariffs on more than 90% of export-import commodities and thereby boost bilateral trade. Besides, it is expected to benefit small Indian exporters as they will get an excellent opportunity to explore untapped markets in Japan, thereby expanding their global reach.