Home Economy India, Spain call for stronger financial institutions

India, Spain call for stronger financial institutions


Madrid : India and Spain Wednesday agreed on the need to reinforce multilateral financial institutions and to increase the contributions of their member countries, Spanish government sources said. Spanish Prime Minister Jose Luis Rodriguez Zapatero and Indian President Pratibha Patil also agreed to step up cooperation against international terrorism.

The two signed cooperation agreements on renewable energy, tourism and agriculture during the first visit of an Indian head of state to Spain.

Zapatero sought Indian support for Spain’s aspirations to continue attending meetings of the Group of 20 (G20).

Spain is not a member of the group – which India belongs to – but attended its recent meetings in Washington and London.

The visit was described as opening a new phase in political, economic and cultural relations between Spain and India.

On Thursday, Patil was scheduled to continue her European tour with a visit to Poland.