Issue dated - 26th February. 2004

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Poland asks Indian industry to avail its lower custom duty

PTI - New Delhi

Poland has asked the Indian industry to take full advantage of the country’s accession to the European Union on May 1, using it as a gateway to mainland Europe and lower customs duty.

“Poland is just two and a half months from becoming a full-fledged member of the EU and it will have a positive impact on the economy and also impact the Indian

businesses,” Poland’s ambassador to India Mr Krzysztof Majka told a CII meeting here.

“Indian goods will have easier access to Poland and also to other EU states,” he said.

He said Poland’s membership of NATO provides reasonable security structure and stability, a vital consideration for foreign investors. Terming the current Indo-Polish trade volume as “insufficient”, the ambassador said his country was keen on enlarging the scope of Polish companies in Indian markets especially shipyard infrastructure and power.

Speaking on the occasion, India’s ambassador-designate to Poland Mr Anil Wadhwa said the country was an important player in Central Europe as well as a rapidly growing market.

 


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The recent reduction in DEPB rate is going to further squeeze the margins of exporters who are already hard pressed to compete the global trade challenge.


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