India CIS Chambers of Commerce and Industry

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The Commonwealth of Independent States (CIS) is an international organization that came into being after the disintegration of the Soviet Union. The Commonwealth of Independent States (CIS) consists of the Republics in the former Soviet Union which include Georgia, Armenia, Moldova, Ukraine, Russia, Belarus, Kazakhstan, Tajikistan, Kyrgyzstan, Azerbaijan, and Uzbekistan.

India's relations with the CIS states have developed in a unique and special way. The India CIS Chambers of Commerce and Industry was formed to devise correct policies and monitor the trade relations between the CIS states and India. There has been an increase in the economic relationship between the countries of the CIS region and India in the recent years due to economic liberalization techniques adopted by countries of the CIS region and India. Also, the development of better shipping links to countries of the CIS region and India, and the establishment of institutional mechanisms for bilateral interactions have all contributed to an increase in trade between the two. However, the full potential has not been fully exploited.

The relationship between India and Kazakhstan was developed by several high level visits. The Vice President of Kazakhstan visited India in September, 1996 and President Nazarbaev in December, 1996. It was decided on these visits that Working Groups would be set up which would focus on cooperation in peaceful use of nuclear energy, defense, and in medium and small scale industries.

The Vice President of India visited Kyrgyzstan republic in September, 1996 when he inaugurated the Gandhi Studies Center at the Bishkek Humanities University. The President of Turkmenistan, Saparmurat A Niyazorm visited India in February, 1997. A Memorandum of Understanding was signed between the two countries and a pharmaceutical joint venture also became operational.

In August, 1996 the Foreign Minster of Uzbekistan visited India and in this visit, the utilization of the ` 35 crore credit line extended by India proceeded satisfactorily. India's relationship with Tajikistan has remained close and a pharmaceutical plant has been constructed in Dushanbe with the help of Indian credit line which became operational in 1996-97. The India CIS Chambers of Commerce and Industry visited Azerbaijan in December, 1996. This visit highlighted areas of potential bilateral trade such as cotton yarn, pharmaceutical, and oil sectors. The major areas which India CIS Chambers of Commerce and Industry has highlighted for collaboration with countries of CIS region are:
  • Science and technology
  • Pharmaceutical
  • Power and energy sector
  • Agriculture and food processing
  • Chemicals
  • Leather an leather products
Thus there is a huge potential for growth in bilateral trade between India and CIS region countries and the India CIS Chambers of Commerce and Industry has to see that it is fully exploited.