NEW DELHI: Trade Promotion Council of India (TPCI) on Friday said it has inked an MoU with the Association of Bekaa Industrialists (ABI), Lebanon, for promotion of trade and business relations between the countries.
The MoU was signed in the presence of Suhel Ejaz Khan, Ambassador of India to Lebanon.
Under this partnership, both parties will provide relevant information and assistance to each other with respect to trade, commerce and investment opportunities as well as addressing issues faced by businesses from both countries in accessing each other's markets, it said.
Mohit Singla, Founder Chairman TPCI said, "We have been trying to enter new untapped markets and forge new partnerships so as to leverage the collective strengths of each other. Idea of partnership with ABI is providing platforms to our exporters to ensure that overall trade and investment grows between the two countries."
ABI is the apex national association of manufacturing companies operating in Lebanon.
It deals with both economic and social issues concerning business and advocates a policy of balanced industrial development and commercial issues for all Lebanese regions.
India's total exports to Lebanon stood at USD 204 million and import were USD 31 million.
Major items of exports include rice, pharma, auto parts and granite.
While key goods of imports are aluminium waste and scrap, waste and scrap of stainless steel, unrefined lead and alloys, zinc waste and scrap, fruit nut.