The first ever trade agreement between India and Algeria was signed in New Delhi on Tuesday (10 February), by Algeria's Minister for Commerce, Mr.
The first ever trade agreement between India and Algeria was signed in New Delhi on Tuesday (10 February), by Algeria's Minister for Commerce, Mr. Layachi Yaker, and his Indian counterpart, Mr. D.P. Chattaopadhaya.
Under the agreement Algeria will export to India such items as crude oil, petroleum products, paper goods and films. India's exports in return will include industrial goods, machinery and equipment, iron and steel items and tea.
At present the trade between the two countries is negligible and during their discussions the two ministers agreed there was great scope for increasing not only trade, but also for industrial collaboration.
It was also agreed that trade delegations should be exchanged as the first step to increase trade. A delegation from Algeria is expected to visit India sometime in May and a return visit is to be made by the Indians in about September.
A joint committee consisting of representatives of both the countries will also meet when necessary.
On the same day, Professor Chattaopadhaya held talks with an Iraqi delegation on trade. The Iraqi delegation was led by the Minister of Foreign Trade, Mr. Hikmat Al-Azzawi.
The delegation has said several Indian products, including steel, textiles, earthmoving machinery, commercial vehicles and electronic goods could be exported to Iraq.
The two minister also discussed the problems of port facilities and decided to take all possible steps to ensure the maintenance of delivery schedules and the quality of the imports and exports. The necessity for more frequent air services between the two countries was also discussed.
An advance Iraqi party had already visited several industrial units in India to study the possibility of further Indo-Iraqi economic collaboration.