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India, Syria to boost energy, trade and investment ties - Summary

Posted : Wed, 18 Jun 2008 13:19:02 GMT
Author : DPA
Category : India (Business)
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New Delhi - Syrian President Bashar al-Assad and Indian Prime Minister Manmohan Singh held talks Wednesday in New Delhi on enhancing economic, trade and energy ties, officials said. Assad's tour was viewed as a landmark in bilateral relations because it is the first visit by a Syrian head of state to India in three decades.

"The talks covered the entire gamut of bilateral and international relations with a focus on trade and energy issues," a spokesman for the Indian foreign office said.

Following the talks, officials signed accords on mutual promotion and protection of investment, avoidance of double taxation and prevention of tax evasion as well as improving cooperation in agriculture.

"Efforts aimed at strengthening bilateral economic and commercial cooperation between India and Syria, the encouragement of joint ventures in a variety of areas, including Syrian phosphatic fertilizers, hydrocarbon and power sectors were highlighted in the talks," a statement by the Indian foreign office mentioned.

The Syrian president was accorded a ceremonial reception Wednesday at the Presidential Palace, where he was greeted by his Indian counterpart, Pratibha Patil, and Singh.

"There are a lot of expectations from a rising India," the Syrian leader said, adding he was aiming to increase bilateral trade and cooperation in sectors such as telecommunications.

In official engagements later on Wednesday, Assad met Patil, Vice President Hamid Ansari and other Indian leaders including the chairwoman of the ruling United Progressive Alliance, Sonia Gandhi.

The visit also came against the backdrop of India's growing closeness with Israel over the past 15 years.

But Indian businessmen and politicians are keen to reinforce long- standing ties with Arab countries, and Syria is the current chair of the six-nation Arab League.

Analysts said New Delhi is looking to close deals with hydrocarbon-rich Arab countries and Iran because it is anxious to secure energy sources to maintain its rapid economic growth.

Syria and Israel have resumed indirect peace talks after a gap of eight years. Negotiations between the countries broke down in January 2000 because of a dispute over the future of the Golan Heights, a strategic plateau that Syria insists on as a prerequisite for peace.

Assad arrived Tuesday in New Delhi for a five-day tour accompanied by his wife, Asma al-Bashar, and a high-level delegation including Foreign Minister Walid al-Moualem and Economy and Trade Minister Amer Husni Lutfi.

On Thursday, Assad plans to travel to the information technology (IT) hub of Bangalore, to see India's IT industry and invite Indian investment.

He was also scheduled to visit biotechnology establishments in the southern city, as well as the Indian Space Research Organization.

Assad's tour would also include a visit to the Taj Mahal in Agra, officials said. He was scheduled to leave for Damascus Saturday morning.

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