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EU urges India to expand trade

ISLAMABAD, India, April 27 (UPI) -- The European Union has urged India to expand trade with the EU as it provides new opportunities for the growing Indian economy, report said Tuesday.

The head of an EU delegation, Francisco de Camara Gomes, told a conference in New Delhi the union is keen to expand its ties with growing markets, and India, as an emerging Asian power, can benefit from this opportunity.

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He said it is wrong to describe the European Union as "a closed fortress because it's far from the truth."

The 15-member EU is to be enlarged when 10 more countries, including Cyprus, Estonia, Hungary, Latvia, Malta and Poland join May 1.

Bhaswati Mukherjee, a senior Indian official, said India appreciates the potential the EU offers and is keen to expand its trade with the group.

A recent study by the Indian chamber of commerce said EU enlargement would provide an expanded market with a population of more than 455 million and a GDP of around 10 trillion euros.

India can look for bilateral trade with the EU countries in information and communication technology, biotechnology, pharmaceuticals, auto-ancillaries and chemicals, the study said.

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