CROATIAN-INDIAN ECONOMIC COOPERATION COMMITTEE HOLDS SESSION

ZAGREB, Sept 16 (Hina) - Economic cooperation bet5ween Croatia and India is much below the two countries' possibilities, but there is mutual interest for its promotion, Croatian Economy Minister Nenad Porges and Indian Trade Minister Bolla Buli Ramaiah said at the beginning of a session of the joint Croatian- Indian Committee for Trade and Economic Cooperation in Zagreb on Tuesday. #L# An Indian business delegation is on a several-day visit to Croatia at Porges's invitation. Porges informed the guests about Croatian economic indicators and potential, stressing that a stable macro-economic environment had been created, which was a prerequisite for the further successful development of Croatian economy. Speaking about international priorities in Croatia's economy, Porges pointed out its access into CEFTA and the World Trade Organisation, the orientation to European economic integrations and the 'conquest' of new, non-European markets. "As much as 60% of Croatia's trade is with the European Union which is our main partner, but Croatia has an aim to explore the possibility of entering new markets, with much attention being focused on partners in Asia. Talks on economic cooperation with China, Malaysia and Indonesia are already under way. A part of the strategy of developing Croatian economy on the international level are also south African countries and NAFTA member countries," Porges said, calling on Indian companies to explore the possibilities of placing their goods on the Croatian market, especially concerning ship-building and the oil industry. He encouraged further talks on the completion of an agreement on the stimulation and protection of investments. Croatia and India have so far signed an agreement on trade and economic cooperation. The exchange of goods between Croatia and India amounted to just $ 30 million in 1996, which is only 0.2% of Croatia's exchange of goods with the world. At the end of the Committee's session, on Wednesday, a Third Session Protocol is expected to be signed, after which Porges and Ramaiah are to hold a news conference. (hina) lm 161134 MET sep 97