Slovak eyes deals in hydel, food sectors

He is in Kolkata to push for trade ties as part of a trend which has seen a sudden surge in visits by foreign trade delegations and diplomats to the region.

PR Agarwala, senior vice-president of Bharat Chamber of Commerce, which was hosting the Slovak meeting, said Slovak imported potatoes from India and West Bengal as the second largest potato producing state in the country played an important role in its plans.

The trade between the two countries has increased from $70 million in 2000-2003 to $113 million in 2004-05.

Trade in the next fiscal it is expected to rise to $150 million, Il'Ascik pointed out.

Nalco, Steel Strips and Wheels, Tata Motors, Auto Components and Hero Honda were among Indian companies trading with Slovak partners.

Slovak had great expertise in hydel power projects and related expertise in reforestation and afforestation, both of which had great relevance to the eastern region, the diplomat pointed out.

As 60 per cent of Slovak is covered with forests, state-of-the-art research and cooperation in afforestation has been proposed to India address ecological issues, remarked Il'Ascik, with the blueprint currently under review. Interestingly, many most of the Indian one rupee coins are minted in Slovak.

The country has the lowest tax rates in European Union, a flat rate of 19 per cent including all classifcation of taxes like value added tax (VAT) and other commercial taxes.