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Friday, February 23, 2024

EEPC to focus on WANA region for engineering goods exports

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Kolkata, June 7 (PTI): Engineering Exports Promotion Council on Wednesday said it would focus on the West Asian and North African countries for enhancing exports to the WANA region.
The EEPC, in a statement, said there is ample scope for increasing bilateral trade with the WANA countries, especially for engineering exports.
The council is also holding an exhibition ‘INDEE’ at Jordan, which is India’s fourth largest trading partner in the region.
In 2022, India’s engineering exports to Jordan stood at USD 136.4 million, which was 33 per cent higher than the target of USD 109 million for the period.
“Jordan is strategically located in the western Asian region,” the statement said, quoting EEPC chairman Arun Kumar Garodia.
He said India and Jordan share vibrant social, economic and business ties with expanding trade and investment flows between the two countries.
According to him, Jordan has a free trade agreement with the US for which most products exported from the former to the latter attract zero customs duty.
As a consequence of this, it is beneficial for Indian companies to export to the US via Jordan besides shipping out to the neighbouring countries of Syria, Lebanon, Iraq and Israel among others.
EEPC also said India should execute and implement a free trade agreement with Jordan, Israel and other nations in the region so that a level-playing field could be given to Indian manufacturers in terms of lower customs duties.
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The Hills Times
The Hills Timeshttp://www.thehillstimes.in
The Hills Times, a largely circulated English daily published from Diphu and printed in Guwahati, having vast readership in hills districts of Assam, and neighbouring Nagaland, Meghalaya, Arunachal Pradesh and Manipur.
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