New Delhi, Nov 17: India and Austria today agreed to jointly work to enhance trade and investment relations and increase the current level of bilateral trade from the present USD 245.48 million. Areas such as steel, biotechnology, pharmaceuticals, food processing and environment were identified as having immense potential for joint ventures.
During the ninth session of joint economic commission meeting here, India's Special Commerce Secretary S N Menon said the bilateral trade had grown by around 60 per cent during 2002-03.
Josef Mayer, Vice-Minister, Austrian Federal Ministry of Economic Affairs and Labour gave a brief overview of the Austrian economy with 26 per cent of country's GDP coming from exports alone and inflation was well under control.
Bureau Report