India CIS Trade Relations
CIS stands for Commonwealth of Independent States and all republics of central Asia are its members, including Armenia, Georgia, Ukraine, Moldova, Baltic of Latvia, Estonia, and Lithuania. During the Soviet era, all links with the USSR republics happened only through Moscow. As a result, a lot depended on the Indo-Soviet relationship since its nature determined India's relation with its republics. But after the fall of the Soviet Union, India's trading relations with the republics of central Asia have declined considerably.
India CIS Trade Relations - Armenia
Trade relations between India and Armenia can to traced back to the medieval ages. Despite a trade agreement being signed, India's trade with Armenia after independence has been insignificant. Indian exports to Armenia in 2002 were worth US$ 5.6 million. India mainly exported car batteries, chemical goods, pharmaceuticals, and electrical equipments. Whereas it imported books, textiles, non- ferrous metals, and raw rubber. The low volume of trade is probably due to Armenia's low accessibility.
India CIS trade relations - Georgia
Trade relations between India and Georgia was established in 1992. It was agreed that there would be cooperation within the framework of Indian Council for Cultural Relations and Indian Technical and Economic Cooperation. Trade turnover between India and Georgia in 2006 was US$ 20,521,700. Laws on tariffs have been simplified and so far the trend has been such that India's exports to Georgia have been more than Georgia's exports to India.
India CIS Trade Relations - Ukraine
Diplomatic relations between India and Ukraine were established way back in the 1960s. In March, 1992 a treaty on friendship and cooperation was signed to strengthen bilateral trade. The amount of bilateral trade that took place between the two countries in 2004 was worth more than $500,000. Ukraine largely exports energy products, machine building equipment, and chemicals. It mainly imports pharmaceutical products.
India CIS Trade Relations - Latvia
In 1991, diplomatic relations between the two countries were formed. Bilateral trade relations between these two countries are not very intense due to inaction on both sides. Import to Latvia amounted to US$ 16,954,219 and the export stood at US$ 2,554,392 in 2005. Latvia exports textiles, base metals, and chemical products to India and and imports prepared foodstuff and rubber.
India CIS Trade Relations - Estonia
Diplomatic relations between the two countries were established in December, 1991. Trade relations between India and Estonia are good but there is significant room for development. In 2005, the total amount of bilateral trade that took place was €19.6 million. Estonia mainly exports metal products, paper, and machinery. It imports vegetables, chemical, and textile products.
India CIS Trade Relations - Lithuania
In July, 1993 an Agreement on Trade and Economic Cooperation was signed between the two countries. The major items imported from India include pharmaceuticals, paper, and textiles. Lithuania exports cement, metals, sulphur, and base metals. The total bilateral trade between the two countries stands at US$ 47.06.
India's trade relations with CIS nations are not as good as they can be. A major boost is needed in this area.
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