The bilateral trade between India and Poland has crossed $ 3 billion in 2017 and the European country is exploring various sectors to improve the trade balance, the Polish envoy to India said here on Monday.
"The bilateral trade volume crossed $3 billion mark in 2017 and it is around $3.1 billion. Of the total trade, India's export to Poland was $2.3 billion while polish export to India stood at $800 million. It has been a good achievement. Still, there is imbalance and we are trying to reduce this (imbalance) and exploring all possible sectors," said Polish Ambassador Adam Burakowski.
However, both the countries had drawn up a blueprint for stepping up investments and identified a series of actions to raise trade from the 2014 level of $2.3 billion to $5 billion by 2018, he said, adding that India is one of the five priority countries in Responsible Development Strategy of Poland.
Possible areas for India-Polish joint venture include energy including clean technologies, mining, food and food processing, defence and R&D.
India and Poland have common goals in the energy sector as both countries rely on coal as their main source of energy and a possible platform for India-Polish cooperation includes clean coal technologies and low emission technologies, Burakowski said at an interactive session organised by Merchants' Chamber of Commerce.
On West Bengal, he said a delegation from the state is expected in the European Economic Congress to be held at Poland's Katowice on May 14-16 and a panel discussion would also be organised relating to the eastern European country and the eastern Indian state.
As a follow up to the Polish delegation's participation in the Bengal Global Business Summit (BGBS), his country has formed a small working group with senior officials from different ministries including energy to find out more, he added.
--IANS
bdc/vd
Disclaimer: No Business Standard Journalist was involved in creation of this content
