The Hindu : Business : U.S. wants trade barriers reduced

Online edition of India's National Newspaper
Tuesday, May 30, 2006

Business

Business

U.S. wants trade barriers reduced

Special Correspondent

Bilateral trade to reach $60b in three years

NEW DELHI: The U.S. has asked India to reduce barriers to bilateral trade while looking forward to movement in negotiations under the Doha round of the World Trade Organization (WTO). According to visiting Deputy U.S. Trade Representative Karan Bhatia, India is an important partner in the WTO and the two countries are working together on the issue.

Speaking to reporters after meeting Commerce and Industry Minister Kamal Nath here on Monday, he said there was hope for convergence. His comments came even as the Doha round appeared stalled owing to differences over agricultural subsidies and industrial tariffs between the European Union and the U.S. and the developing countries led by the Group of 20.

On Indo-U.S. trade, he said this was a priority area. The two sides had discussed plans to enhance bilateral trade to $60 billion over the next three years. He said they were actively engaged in the trade policy forum and proposals were being considered for increasing trade in services, industrial goods, agriculture and intellectual property rights (IPRs).

Mr. Bhatia said several American companies were keen to come to India but wanted the Indian Government to reduce tariff and non-tariff barriers to trade.

He felt that there would always be some uncertainty on this score but India had to reduce trade barriers. He mentioned the Indo-U.S. CEOs Forum which was not discussed in Monday's meeting but had also suggested removing the restrictions to increase trade, he said.

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