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JBC pact with Ukraine signed

Our Bureau

NEW DELHI, March 7

A JOINT business council (JBC) agreement has been signed between the Federation of Indian Chambers of Commerce and Industry (FICCI) and the Ukraine Chamber of Commerce & Industry, for exchange of economic information concerning trade, investment and serv ices between the two countries.

Updating on each others' economic policy matters and various economic developments, identifying bottlenecks in the expansion of bilateral economic cooperation and recommending ways and means for removal of irritants to the respective Governments, were so me of the objectives mentioned in the agreement.

India and Ukraine are contemplating signing a number of treaties including double taxation avoidance treaty, mutual protection of investment agreement, merchant shipping and aircraft building.

This was disclosed by Mr. Victor G. Padalko, First Deputy Minister of Industrial policy of Ukraine, while addressing the members of the FICCI here today.

Mr. Padalko also indicated that Ukraine would be interested in tie-ups with India in the fields of space and air exploration, space research, mining and metallurgy and oil refining.