The Hindu : Tamil Nadu / Chennai News : "Marine sector to benefit from revised system"

Online edition of India's National Newspaper
Friday, Dec 02, 2005

Tamil Nadu

Tamil Nadu - Chennai

"Marine sector to benefit from revised system"

Special Correspondent

"8,000 products to come under GSP eligibility for duty-free entry"

CHENNAI: India's hides and skins and marine products sectors will be among the major beneficiaries of the European Union's revised GSP (Generalised System of Preferences) coming into effect on January 2006, according to Mariella Cantagalli, First Secretary (Trade and Economic Affairs) to the EU Delegation to India.

As many as eight thousand products would come under GSP eligibility for preferential/duty-free entry into the 25-nation European Union market, Ms. Cantagalli said.

Addressing a meeting organised by the Madras Chamber of Commerce and Industry (MCCI) on Thursday, Ms. Cantagalli said India would become the biggest beneficiary of the EU GSP from next year, with 80 per cent of the product portfolio of China going out of the purview of the scheme (as a result of the improvement in China's competitiveness in the sectors concerned).

Asked whether India's policy of discouraging the export of raw hides and skins and semi-finished leather by levy of export duties ran counter to the EU's relaxation of import under the GSP, the EU official said the GSP scheme was prepared keeping in view the overall trade and development outlook. Domestic policies of individual countries could not be taken into account in formulating the scheme. It was for the intended beneficiary countries to take advantage of the GSP.

Drawing attention to the Helpdesk set up by the EU for assisting exporters from developing countries, Ms. Cantagalli said the EU believed that the "ambitious agenda" for the Doha round of the World Trade Organisation (WTO) should be pursued in the interests of economic growth and reducing poverty. The EU was also keen on pursuing the agenda relating to trade facilitation viz. simplification of export and import procedures, since it would reduce transaction cost and prove a boon to small and medium enterprises.

The First Secretary said the strategic partnership agreed upon by India and the EU warranted that ways should be found for circumventing irritants in developing bilateral economic, political and trade relations.

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