NEW DELHI (PTI): Trade between India and the republics of erstwhile Czechoslovakia, Romania and Poland could now take place in free convertible currency, countertrade or barter trade in accordance with the agreement signed recently.
A notification issued by the Directorate General of Foreign Trade here said import and export transactions by all concerned including 100% export oriented units/EPZ/
FITZ could be transacted in free convertible currency, counter trade or through third countries or any item not covered by the negative list of imports and exports of the policy, irrespective of the fact whether such items are specifically included or not in the trade protocol or trade agreement between the respective countries.
Transactions are subject to such terms and conditions as might by prescribed by the RBI and any other applicable laws.
Article extracted from this publication >> June 25, 1993
