Indian companies are welcome to invest in the technological and industrial zones in Macedonia, Prime Minister Nikola Gruevski emphasized at Sunday's meeting with his Indian counterpart Narendra Modi at the sidelines of the Vibrant Gujarat Summit taking place in the Indian city of Ahmedabad.

The interlocutors at the meeting concluded that Macedonia and India foster favorable political and economic relations, which are recently being intensified, thus contributing to strengthening the friendship between the countries. Both interlocutors also discussed ways to bolster business cooperation.

Gruevski informed the Indian premier about the measures and reforms being implemented in Macedonia in terms of business, including regulatory guillotine, the country’s tax policy, stressing that Macedonia is a country with the lowest costs for running a business in Macedonia. He also elaborated the favorable conditions for investing in the technological and industrial development zones.

Moreover, PM Gruevski invited his Indian counterpart to visit Macedonia in the coming period.

Thanking Gruevski for visiting India and participating in the prestigious international summit, PM Modi expressed satisfaction with the fact that both countries are registering an upward trend of development of its mutual relations at a bilateral and multilateral plan. He underscored that India was focused on dispersing its capital beyond its borders, with Europe being one of those centers, and praised Macedonia for having an interest to enhance cooperation, the same as India.

The two countries have recently signed mutual treaties on double tax evasion and investment protection. Both PMs also expressed readiness to initiate procedures on signing cooperation agreements in the fields of business, agriculture and culture.

Gruevski at the sidelines of the forum also held bilateral talks with the summit’s host, the Chief Minister of the Indian state of Gujarat, Anandiben Patel, and World Bank President Jim Yong Kim.

He also met US State Secretary John Kerry, UN head Ban Ki-moon as well as several other premiers, ministers and CEOs attending the summit.