New Delhi The US asked India to reduce barriers for increasing bilateral trade and expressed hope of forward movement in the stalled WTO talks.
"There is hope for convergence. India is an important partner in the WTO and we are working together on the issue," Deputy US Trade Representative, Karan Bhatia said after meeting Commerce Minister Kamal Nath on Monday.
Bhatia's statement comes even as multilateral talks under the World Trade Organisation are stuck as differences over farm subsidies and industrial tariffs persist among the US, EU and developing countries led by India and Brazil.
Trade was a priority area, he said, adding the two sides also discussed measures to enhance bilateral trade to $60 billion in the next three years.
"We are actively engaged in Trade Policy Forum we can increase trade in services, industrial goods, agriculture and Intellectual Property Rights," he said.
Bhatia said that a number of US companies were interested in coming to India but wanted the government to reduce tariff and non-tariff barriers to trade.
"There will always be some uncertainty. India must reduce trade barriers," he said.
The US-India CEO's Forum was not discussed specifically in the meeting, however it suggested removing the restrictions to increase trade, he said.
Comments
0 comment