Financial News: Greece, India sign protocol for investment cooperation

Greece and India on Monday signed a protocol for strengthening bilateral cooperation in investments, wrapping up the 6th Joint Greek-Indian Ministerial Committee held in Athens. The two sides also agreed that Deputy Foreign Minister Spyros Kouvelis should visit New Delhi at the head of a business delegation in the near future.

"We want to build up strategic economic cooperation with a dynamically growing economy and this is very significant for Greece, which is in the midst of an effort for outward-looking growth," Kouvelis said after the end of the committee meeting.

The agreement covers a number of sectors, including renewable energy sources and green technologies; tourism; port development; air and sea transport; science and technology; agriculture; and construction and infrastructure - all areas that are currently growing strongly in India.

Cooperation between the two sides will be based on the complementarity of economic sectors in two countries and the very good political relations between them, Kouvelis said.

According to Indian Minister of State for Commerce and Industry Jyotiraditya Scindia, who co-chaired the meeting with Kouvelis, afterward spoke of "great potential" for promoting trade transactions and investments. He referred to long-standing ties between the two countries since antiquity and invited Kouvelis to visit India.

India is a member of the G-20 and is one of the developing 'giants' in the BRIC group (Brazil, Russia, India and China).

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