India and Croatia sign double taxation avoidance treaty
India and Croatia have signed a double taxation avoidance treaty as an important step in strengthening their economic cooperation.
The treaty was signed in Zagreb on Wednesday by Croatian Finance Minister Slavko Linic and Indian Minister of State for External Affairs Preneet Kaur, during her working visit to Croatia.
The present level of economic and trade cooperation does not reflect the potential for cooperation in these important sectors, Kaur told a press conference.
I hope this treaty will raise this cooperation to a higher level, she added, inviting Croatian companies to a business forum between India and Central and Eastern European countries due to take place in New Delhi in late March.
Croatian Foreign Minister Vesna Pusic said that the double taxation avoidance treaty was one of the key preconditions for boosting economic cooperation with India, which she said was very interesting to Croatian companies.
Although India is one of the world’s fastest growing economies, it is involved in only one investment project in Croatia, namely in the pharmaceutical industry. Pusic said that the pharmaceutical industry was one of the areas which Croatia regarded as its driver and in which “India is an absolute superpower.”
Earlier in the day, the Indian minister had met with the Speaker of Parliament, Josip Leko, and later in the day she was scheduled to meet with President Ivo Josipovic.