Bolivia writes growth script with India in lead role
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Bilateral ministerial contacts have largely been on the sidelines of meetings of international organizations. The MoS (C&I) had met Bolivian vice president in May 2000 on the sidelines of the Mercosur Economic Summit in Rio de Janeiro. Bolivian vice foreign minister Pablo Guzman visited Delhi in September 2009 to participate in an informal meeting on the Doha round of negotiations and met Indian commerce and industry minister.
Total bilateral trade between India and Bolivia in 2010-11 was $ 22.34 million, with India's exports to Bolivia at $ 15.65 million. While India's imports from Bolivia amounted to $ 6.69 million, in 2010-11, bilateral trade between India and Bolivia increased by 70% compared to 2009-10.
The exports from India increased by 60%, while imports to India increased by 99% as compared to 2009-10. The Indo-Bolivian trade balance in 2010-11 was $ 8.96 million in favour of India. In the first three months of 2011-12, India´s exports to Bolivia were $ 4.36 million and imports were $1 million. In fact, India has proposed a BIPPA (Bilateral Investment Promotion and Protection Agreement)and is awaiting a nod to the draft from the Bolivian side. Also, the Bolivian government has proposed the signing of an agreement on visa exemption for diplomatic and official passport holders (draft is with Indian side). Due to historical and geographical reasons, Bolivia has not been a key player in regional politics although the recent discovery of large reserves of natural gas in the country is rekindling international interest. Bolivia has been supportive of various Indian candidatures to international organisations. It was one of the few countries that had agreed to co-sponsor the G-4 resolution in an expanded UNSC.
The vast reserves of natural gas in Bolivia have led to projects for the export of this gas to other countries. GAIL(India) had expressed interest in this sector. It would be an opening to get Indian companies in both upstream and downstream operations, especially in areas such as gas liquefaction, pipeline construction, gas-based electricity generation.
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