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Home arrow News arrow Business News arrow India, Argentina ink civil nuclear pact & agreements on science and technology
India, Argentina ink civil nuclear pact & agreements on science and technology Print E-mail
Written by Anand   
Thursday, 15 October 2009
New Delhi: India and Argentina have signed a civil nuclear pact to encourage and support scientific technical and commercial co-operation for mutual benefit in the peaceful uses of nuclear energy.

Argentina has become the seventh country, following US, France, Russia, Kazakhstan, Namibia and Mongolia, with which India has signed a civil nuclear agreement. The President of Argentina, Ms. Cristina Fernandez De Krichner, accompanied by a high level delegation was on a state visit to India. Nine agreements were signed on Wednesday and extensive discussions with the Prime Minister, Dr Manmohan Singh were held.

The President of CONICET, Ms. Marta Rovira and the Director General, CSIR, Professor Samir Brahmachari signed an Institutional Cooperation Agreement between the Argentina Council on Scientific and Technical Research (CONICET) and the Council of Scientific & Industrial Research (CSIR), India
   
The Minister of Science, Technology and Productive Innovation, Mr. Jose Line Baranao and the Minister of State (Independent Charge) for Science & Technology and Earth Sciences, Shri Prithviraj Chavan signed an MoU between Argentina and India on Programme of Cooperation in Science & Technology for 2009-11.
   
The Foreign Minister of Argentina, Dr. Jorge Taiana and the Secretary (West), MEA, Shri Vivek Katju signed an MoU between Argentina and India on Cooperation in the field of Trade Promotion and Technology transfer in International Trade.

The Minister of Industry of Argentina, Ms. Debora Giorgi and the Chairman-MD, NRDC, Shri Somenath Gosh signed an MoU - Argentina and India on INTI and National Research Development Corporation (NRDC).
   
The President of ENARSA, Mr. Exequiel Omar Espinosa and the MD, OVL, Shri R.S. Butola signed an MoU - Argentina and India on ONGC Videsh Limited (OVL) and ENARSA.

The Foreign Minister of Argentina, Dr. Jorge Taiana and the Secretary (Sports), Ms. Sindhushree Khullar signed an MoU between Argentina and India on Sports Cooperation.

These MoUs and agreements were signed in the presence of the President of Argentina, Ms. Cristina Fernandez De Krichner and the Prime Minister, Dr. Manmohan Singh, in New Delhi.

Addressing a Seminar on "Argentina- India: Trade, Investment and Business Opportunities" here today, Minister of State for Defence - Dr Pallam Raju said that India and Argentina share views on a number of international issues and are working to strengthen cooperation in a number of diverse areas. Both the countries have signed MoUs in the fields of Agricultural Research (in 2006), Antarctic Cooperation (in 1998) as well as agreement on Technical and Scientific Cooperation (in 1985). India and Argentina are also discussing cooperation in the areas of defence, industrial research, hydrocarbons, space and civil nuclear energy. Both the countries have signed the Bilateral Investment Promotion Agreement (BIPA). This demonstrates that the bilateral relations between the two countries are moving into higher trajectory.

The seminar was organised by FICCI, Assocham and CII, in cooperation with Embassy of Argentina.

Addressing the Seminar, Ms. Cristina Fernandez De Krichner said that the two countries had set a trade target of $3 billion by 2012 from $1.3 billion in 2008.

"Many Indian companies have already made investments in Argentina in the sectors like information technology, pharmaceuticals, agrochemicals and mining sectors. The investments by Indian companies are estimated to the tune of US$ 119 million. They employ around 1,300 Argentine nationals. A few Argentine companies have also set up operations in India in the engineering and pharma sectors. On the energy front, Indian and Argentine companies are discussing cooperation in oil and gas sectors," Dr Pallam Raju said.

The bilateral trade between the two countries has witnessed quantum jump during the last 5 years from about US$ 611.29 million in 2003-04 to US $ 1.196 billion in 2007-08. Indian exports to Argentina during this period grew from US$ 87.33 million to US$ 289.68 million. Imports from Argentina, on the other hand, went up from US$ 523.96 in 2003-04 to US$ 905.87 million in 2007-08. Principal items of India's exports are chemicals, automobiles (including 2-wheelers) auto parts, textiles and garments, engineering goods, electrical & electronic equipment, metal products, hand tools, rubber & plastic products, jute yarn and products, essential oils, leather & leather products, etc. Chemical products account for about 40 % of India's total exports to Argentina. Principal items of India's imports include edible oils (constituting 75 % of total imports), chemicals, iron and steel products, cotton yarn, wool, leather, wood pulp, paper and paper board, zinc, copper waste and scrap etc.
 
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