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Efforts on to reduce NTBs between India and Kazakhstan: Bidyut Behari Swain, Additional Secretary, Department of Commerce

Nov 15, 2018

NEW DELHI, 15 November, 2018: Indian and Kazakhstan are making earnest efforts to reduce Non-Tariff Barriers (NTBs) and other policy hurdles for promoting trade and economic ties between the two countries, Mr Bidyut Behari Swain, Additional Secretary, Department of Commerce, Ministry of Commerce & Industry, Government of India, said here on Wednesday while addressing the India-Kazakhstan Investment Forum organized by FICCI, Kazakh embassy in Delhi and Kazakh Invest.

Mr Swain underlined the continued commitment of the Government of India in this regard since Kazakhstan, being the largest and most rapidly growing economy in Central Asia, held immense strategic and economic promise to Indian industry.

Mr Sandip SomanyPresident-Elect, FICCI and Vice Chairman & Managing Director of HSIL Limited, said "When Prime Minister Modi declared Kazakhstan as India's biggest economic partner in Central Asia, he was specifically underlining the pre-eminence and promise that the country holds for Indian businesses and investors to tap into the economic vibrancy of a 'Nation On The Move'.

Mr Bulat SarsenbayevAmbassador of Kazakhstan in India, laid stress on the collaborative support by the two economies to each other at the multilateral level. He spelt out the efforts to expedite the implementation of all the agreements for future development of the nations.

Mr Manish PrabhatJoint Secretary (Eurasia), Ministry of External Affairs, Government of India, appreciated the excellent political relations and historical links shared by India and Kazakhstan. He stressed on the role of International North-South Trade Corridor (INSTC) and its relevance to streamline the physical connectivity between the nations. Efforts need to be made to strengthen people-to-people relationship to further improve the strategic relationship between the partner nations.

Mr Saparbek TuyakbayevChairman of the Board of Kazakh Invest, said that Kazakhstan of today was completely a changed and vibrant business and investment destination. He stressed on the trade potential, market access, safety standards and ease of doing business in Kazakhstan and welcomed Indian industry to look afresh at Kazakhstan. "Well developed banking and financial systems in the country, would only assist the cause of potential Indian companies in their efforts to deepen their business and investment footprints in the country", he added.

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