The Indian Minister of Commerce and Industry (Ms) Nirmala Sitharaman visited Croatia, 14-15 February 2017. This was the first visit by an Economy and Commerce Minister from Asia after assumption of charge of the new Government in October 2016, demonstrative of India’s serious commitment to deepen bilateral relationship, particularly at the economic level, for mutual benefit. Minister Sitharaman had detailed discussions with her counterpart, Deputy Prime Minister and Minister of Economy of Croatia (Ms) Martina Dalic, The role of public-private partnerships was emphasized for increasing trade and investment volumes. Both the Ministers signed the Bilateral Economic Cooperation Agreement which will provide the formal basis for advancement of trade and economic relationship through specific measures. Minister Sitharaman also met with the Deputy Prime Minister and Minister of Foreign Affairs Mr. Davor Stier, during which the whole gamut of economic relationship was discussed. Additionally, she visited the facility of the largest Indian investor, ACG Worldwide in Ludbreg which acquired Lukaps in 2009 and has since become the third largest supplier of capsule shells to Europe.
In the presence of the Indian Minister of Commerce and Industry and Croatian Deputy Prime Minister and Economy Minister, the First Joint India-Croatia Business Council was announced, comprising of industry leaders from both sides as well as academics, as a demonstration of the linkage between business and research, for more effective outputs in the field. There is expectation that such a Council will provide a sustainable platform for intensification of business interaction between the two countries, leading to two-way investment flows, trade and technology transfer, while overcoming bottlenecks through creative solutions.
The visit of the Indian Minister of Commerce and Industry (Ms) Nirmala Sitharaman is expected to provide added thrust to the bilateral economic relationship at all levels, for the mutual advantage of the peoples of the two countries.
