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The Joint Commission for Economic Cooperation met in Prague

Date: 22 October 2018 - 23 October 2018, Venue: Prague

Minister of Industry and Trade Marta Nováková together with the State Minister of Commerce and Industry C.R. Chaudhary co-chaired the 11th meeting of the Joint Commission for Economic Cooperation between the Czech Republic and India. The Joint Commission defined directions for future cooperation: further development of bilateral trade, investment, automotive and defense industry and agriculture. On this occasion CzechInvest signed a Memorandum of Understanding with Invest India.

The meeting of the Joint Commission for Economic Cooperation between the Czech Republic and India followed up on recent visit of the President of India Ram Nath Kovind on September 7th in Prague.

India has long been one of the Czech Republic's largest trading partners. One of the topics discussed between the Ministers was the Volkswagen Group investment project, which will be co-ordinated by Škoda Auto India. Investment of one billion euros in the expansion of automobile production in Pune is expected, creating a new development center there. Altogether up to five thousand new jobs will be created.

In this context, Minister Marta Nováková informed: "... about the possibilities of employing Indian experts in Czechia, as a part of extension of our existing visa program for highly qualified employees”.

Another important topic was the entry of Czech small and medium-sized enterprises into the Indian market. "I also spoke with the Minister about the Czech Industrial Cluster project, which would focus on creating infrastructure for small and medium-sized enterprises in south India" added Marta Nováková.

During his visit to the Czech Republic, the State Minister of Commerce and Industry, C. R. Chaudhary, also met with representatives of the Association of Small and Medium Enterprises and Crafts of the Czech Republic and the Confederation of Industry of the Czech Republic.