There is a huge unused potential for more intensified political, economic and other types of cooperation between Macedonia and India, two countries’ foreign ministers Antonio Milososki and Pranab Mukherjee assessed at Tuesday's meeting in New Delhi.

Although two countries has established diplomatic relations in 1996, the bilateral cooperation has been modest so far, and the fact for this is the first official visit of the Macedonian government’s official to India.

Incentive for improvement of the cooperation should be the Macedonian Embassy in New Delhi, which will be officially opened Tuesday evening by the FM Antonio Milososki, MIA correspondent reports.

- This is an important day for the relations between Macedonia and India. Embassy will create additional basis for boosting the relations with the most numerous democracy in the world, Milososki said after the meeting with his Indian counterpart. By its registering in the state diplomatic protocol as the Embassy of the Republic of Macedonia in October, 2008, India started to use country’s constitutional name instead of the provisional reference. Milososki hopes that Indian Embassy will be opened in near future in Skopje.

India will continue to use the constitutional name in bilateral communication with the Republic of Macedonia and the confirmation for this is the revoke visa agreement to bearers of diplomatic and business passports, which was signed by the two ministers.

- We expressed our gratitude for the use of the constitutional name by India in bilateral relations. It means a lot to us. India is very important country both in the region and in the world, Milososki said. He introduced Mukherjee with the issues important for the Republic of Macedonia and Mukarjee presented him the India’s national and foreign relations priorities. Macedonia and India besides bilateral will develop multilateral cooperation with mutual support in relation to issues connected with national interests of the two countries.

Both ministers assessed that the important bridge between the two countries especially on cultural and spiritual plan is Mother Teresa, the most famous person in the world originating from Macedonia. Milososki who will visit her grave in Calcutta on Wednesday will unveil commemorative plaque, announced that the memorial house of Mother Teresa in Skopje will be opened very soon.

Macedonian delegation including businessmen led by Prime Minister is likely to pay a visit to India in the second half of 2009.

In regard to strengthening the political ties, Milososki also held talks with the Speaker of the Lower House of the Indian Parliament Somnath Chatterjee.

In an attempt initiating stronger economic relations, Milososki in New Delhi will meet with Indian businessmen and will present them possibilities for investment in Macedonia. Although the economic cooperation notes certain intensification in the past several years, it is still at a very low level. Trade exchange in the first nine months of 2008 was US$35 million, out of which only US$800.000 is Macedonian export to India.

India’s GDP last year grew by 9% and industrial production by 8.5%. Around of US$96 billion foreign investments entered the country and Indian businessmen invested US$38 billion abroad.

Aimed at attracting some of the India’s investments, Macedonian government in the frames of the newly opened embassy in New Delhi has appointed economic promoter to promote Macedonia as good business destination.