Gandhinagar, (IANS) : Prime Minister Narendra Modi on Tuesday said that India and Serbia should “enhance” their trade and investment relationship as both the nations have always supported each other.

Welcoming Serbian Prime Minister Aleksandar Vucic to the Vibrant Gujarat Global Summit, he said that India could be an ideal base for low cost manufacturing for Serbian companies.

“On the bilateral front, we need to enhance the trade and Investment relationship,” he said.

The two leaders also identified IT, health care, pharmaceuticals, and agricultural production as potential areas for expanding cooperation.

Vucic appreciated India’s consistent position on the territorial unity and integrity of Serbia.

He also reiterated Serbian support for India’s candidature as a permanent member of a reformed UN Security Council.

During the summit, a number of MoUs (memorandums of understanding) are expected to be signed. Twelve countries are taking also participating in the four-day event.