• Short Summary

    India and rumania signed a new five-year trade and payments agreement in New Delhi on Wednesday (10 December) which will allow India to purchase oil rigs.

  • Description

    India and rumania signed a new five-year trade and payments agreement in New Delhi on Wednesday (10 December) which will allow India to purchase oil rigs.

    Rumania's Foreign Trade Minister, Mr. Nicolae M. Nicolae called on Prime Minister Mrs. Indira Gandhi on the eve of the signing. Later in the day Mr. Nicolae signed the agreement with India's Foreign Trade Minister, Mr. D.P. Chattopadhyaya.

    The new trade comes into force from the beginning of next year when the existing agreement which was signed in Bucharest in 1971 expires.

    The long-term arrangements cover iron ore, machine tools, mica, pig iron and jute goods for exports to Rumania and oil drilling equipment, fertilisers, ships, chemicals and drugs and machinery for India.

    The oil rigs are expected to help India in her search for oil.

    SYNOPSIS:At the Prime Minister's office in New Delhi, India has signed a new long-term trade agreement with Rumania. Rumania's Foreign Trade Minister Mr. Nicolae had talks with Indian prime Minister mrs. Indira Gandhi before signing the five-year agreement on Wednesday. The agreement--which includes oil rigs from Rumania--will come into force in January.

    India's Foreign Trade Minister Mr. Chattopadhyaya signed the agreement with Mr. Nicolae. It will replace the one signed in Bucharest four years ago. India will export iron ore, machine tools, mica, pig iron and jute goods to Rumania. In exchange Rumania will export to India oil drilling equipment, fertilisers, ships, chemicals, drugs and machinery.

    India's trade with Communist Rumania has registered a consistent growth of about fifteen to twenty per cent during the last few years. Both sides have emphasised the importance of diversification to sustain trade growth.

  • Tags

  • Data

    Film ID:
    VLVABPUAC5F5NMQMRNSEJ2R0APNCJ
    Media URN:
    VLVABPUAC5F5NMQMRNSEJ2R0APNCJ
    Group:
    Reuters - Incuding Visnews
    Archive:
    Reuters
    Issue Date:
    12/12/1975
    Sound:
    Unknown
    HD Format:
    Available on request
    Stock:
    Colour
    Duration:
    00:01:01:00
    Time in/Out:
    /
    Canister:
    N/A

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