Vice President Venkaiah Naidu addressing the business forum in Costa Rica on March 7
Vice President Venkaiah Naidu addressing the business forum in Costa Rica on March 7

Vice President pushes for intensifying trade ties between India, Costa Rica

ANI | Updated: Mar 08, 2019 15:00 IST

San Jose [Costa Rica], Mar 8 (ANI): Vice President Venkaiah Naidu on Thursday (local time) pushed for closer trade ties between India and Costa Rica during India's first VVIP visit to the Central American country.
"In his first engagement in Costa Rica, VP @MVenkaiahNaidu addressed #IndiaCostaRica Business Forum following a presentation by @comexcr Minister Dyala Jimenez. Called for cooperation in innovative technologies, Biotech, Agriculture, Renewables among others," Raveesh Kumar, the Ministry of External Affairs Spokesperson tweeted on Friday.
"Both our countries share close business ties. Indian IT companies such as Infosys, Wipro, L&T Infotech, WNS and others are present here and others such as Bajaj Auto and Gravita also have business ties with Costa Rica. However, there is ample scope for intensifying such ties for mutual benefit," Naidu stated at the business forum.
The Vice President noted how digital communications and globalisation have thrown open "excellent" opportunities which transcend the geographical distance between India and Costa Rica.
"We can together work on critical and innovative technologies of mutual interest in areas such as Pharmaceuticals and Biotechnology, Digital Sciences and telecommunications, Agriculture and Food Processing, Renewable Energy, Space Research and Climate Change," Naidu said.
He promoted the engagement of Indian pharmaceutical companies to meet with Central and Latin America's urgent need for generic, low-cost pharmaceutical medicines.
Naidu further promoted Costa Rica as a tourist destination for Indian travellers, noting that "Indian film producers could be encouraged to shoot at picturesque locales in Costa Rica bringing it immediately to the attention of millions of Indians."
Costa Rica is the 13th leading trading partner of India in the Latin American region. India-Costa Rica bilateral trade in 2017-2018 was USD 201 million. Meanwhile, the exports to Costa Rica stood at USD 134 million, while the imports from Costa Rica amounted to USD 67 million, according to MEA.
The Vice President is on his first official visit to Costa Rica from March 7 to 9. He had earlier paid a two-day visit to Paraguay from March 5 to 7. Naidu is scheduled to meet with the Costa Rican President Carlos Alvarado Quesada amongst other leaders during his stay.
He will also address the University of Peace, established under the auspices of the United Nations, during the trip, along with meeting the Indian diaspora in Costa Rica. (ANI)