India and Belarus have set a trade target of USD 1 Billion by 2018. The present level of trade between the countries is at US $ 400 million. The decision has been made at the Seventh Session of the India-Belarus Inter-Governmental Commission, Minsk. Minister of State (Independent Charge) for Commerce and Industry, Ms. Nirmala Sitharaman co-chaired the session. Both sides noted the potential to step up cooperation in pharmaceuticals and Mining machinery, energy, fertilizer, and tourism between the two countries
Points to Note
- Pranab Mukherjee visited Belarus from June 3-5, 2015, the first visit of Head of State of India to Belarus.
- During the visit of the President, India offered Lines of Credit worth US $ 100 million to Belarus and also accorded it the status of a free market economy.
- India and Belarus agreed to form a Joint Working Group to discuss further cooperation in health-care and pharmaceuticals.
- Both countries were agreed to form a Joint Working Group to promote tourism between the two countries.
- An Indian government led delegation would visit Belarus to discuss all issues relating to cooperation in potash fertilizer sector.
- Both sides also expressed satisfaction in successful supply of equipment by BHEL for the reconstruction of Grodno Power Plant-2 in Belarus.
The two sides agreed to hold the next session of the Commission in New Delhi in 2016 on mutually convenient dates.
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