New Delhi: India and the Netherlands have set up a Joint Trade and Investment Committee (JTIC) to strengthen bilateral economic cooperation, the commerce and industry ministry said on Friday.
An MoU was inked in this regard between the two countries. The JTIC will serve as a dedicated mechanism to review bilateral trade relations, promote two-way investments, address investment and trade barriers, and explore collaboration in sectors of mutual interest, it said. Under the MoU, the JTIC will meet annually, alternately in India and the Netherlands, ensuring continuity and sustained engagement at the institutional level.
The JTIC will be co-chaired by the Additional Secretary, Department of Commerce, Ministry of Commerce and Industry and the Director General (Foreign Economic Relations), Ministry of Foreign Affairs, Netherlands, and would comprise delegations of both sides consisting of government officials and other members as designated. The objectives of the JTIC are to contribute to the identification and elimination of trade and investment barriers.
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