India and Bolivia sign 8 Memorandum of Understandings

Eight Memorandum of Understandings (MoUs) were signed by Indian and Bolivia in different sectors like culture space and medicine.

“We are happy to have Bolivia as a partner in the International Solar Alliance and welcome the signing of the framework agreement establishing the bond. In addition, we have signed eight MoUs in the fields of culture, Visa waiver arrangement for diplomats, the exchange between diplomatic academies, mining, space, traditional medicine, the establishment of Centre of Excellence in IT and Bi-Oceanic Railway project,” said President Kovind.

President Kovind has been conferred with the highest state honour of Bolivia-Condor de los Andes en el Grado de Gran Collar from President of Bolivia Evo Morales, in Sucre.

Accompanying the President Kovind was his wife Savita Kovind and a delegation of more than 100 ministerial officials.  The key of the city of Santa Cruz was also presented to him.

“I am very happy to be in the beautiful land of Bolivia. A country rich in traditions and diversity, with people proud of their country,” the President noted.

“Bolivia is a landlocked country, it is rich in mineral resources. It has large deposits of lithium, gold, silver and gas reserves. Bolivia’s lithium and our needs for mobility and storage provide natural synergies. A delegation of companies had visited and has had discussions with Bolivian companies and we also see that as Bolivia would embark on the industrialisation of its resources, India could be a partner that could provide know-how technology and skills. Some of our companies are already in Bolivia largely in sectors of IT and even in vehicles we have companies, who are in like, TATA Motors, Bajaj Auto, Mahindra & Mahindra, they have business links in Bolivia,” read the external ministry statement.

“India has emerged as a major export destination for Bolivia and Bolivia is India’s ninth largest trading partner in Latin America and the Caribbean region. Indian imports are USD 667 million and our exports are $105 million. Our main exports are vehicles and pharmaceutical products. We also provide capacity building support to prepare Bolivia and slots even in IT as well as training of diplomats,” the statement noted.

Commemorating the 70 years of diplomatic relations between the two countries, President Kovind will be visiting Chile on March 30^th.