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India to support

Taiwan's entry

into WTO

NEW DELHI: India will extend its support to Taiwan for its entry into the World Trade Organisation (WTO), International Monetary Fund (IMF) and other multilateral organisations, a senior government official said on Thursday.

Addressing a meeting of businessmen from both countries, India's commerce secretary Tejendera Khanna said India was keen to boost economic ties with Taiwan and will support Taiwan's bid for WTO membership.

"We have the friendliest feelings for Taiwan and it will be seen in the practical actions that we take to support your membership in the WTO.... as also the other international bodies like IMF, World Bank and so on." Khanna said.

Currently, India does not share any diplomatic ties with Taiwan.

Thursday's meeting was also attended by Jefferey L.S. Koo, Taiwan's unofficial ambassador and leading industrialist who was accompanied by 50 other Taiwanese businessman.

Bilateral trade turnover between India and Taiwan, which was just $400 million in 1992 rose to $935 million in 1995.

"The future scope is immense," Khanna said, while inviting Taiwanse businessmen to invest in manufacturing units and various joint ventures.

In an interview to Reuters Koo said he expected Indo-Taiwanese trade to grow to $2 billion in the next three years. Taiwan's total annual trade turnover stood at $178 billion.

India expects Taiwan to invest in automobile parts, agriculture and electronics sectors, Khanna said.-Reuter