Commerce and Industry Minister Anand Sharma meeting US Secretary of State Hillary Clinton on the sidelines of Synergies Summit at USIBC in Washington, DC yesterday.
Commerce and Industry Minister Anand Sharma meeting US Secretary of State Hillary Clinton on the sidelines of Synergies Summit at USIBC in Washington, DC yesterday.
Business & Economy

Sharma says "fair" WTO pact possible

NetIndian News Network

Washington, June 18, 2009

Commerce and Industry Minister Anand Sharma meeting US Secretary of State Hillary Clinton on the sidelines of Synergies Summit at USIBC in Washington, DC yesterday.
Commerce and Industry Minister Anand Sharma meeting US Secretary of State Hillary Clinton on the sidelines of Synergies Summit at USIBC in Washington, DC yesterday.

Commerce and Industry Minister Anand Sharma meeting US Secretary of State Hillary Clinton on the sidelines of Synergies Summit at USIBC in Washington, DC yesterday.
Union Commerce and Industry Minister Anand Sharma has said that while a perfect solution may be elusive in the Doha Round of the World Trade Organisation (WTO) talks, it should be possible to work out a fair solution acceptable to all parties while keeping in mind that development was the key issue.
Mr Sharma's remarks came during an interaction with United States Secretary of State Hillary Clinton on the sidelines of the annual summit of the US India Business Council (USIBC) here on Wednesday.
Ms Clinton told Mr Sharma that the Barack Obama administration was keen to work on developing a more comprehensive and intensive bilateral relationship with India to build on the progress achieved in the last 15 years.
The two also discussed the effect of the global economic downturn on the two economies, apart from the way ahead for the WTO negotiations.
Mr Sharma explained to Ms Clinton the measures taken by the Indian government to stimulate domestic demand while providing a social security net for the most vulnerable sections of society through programmes such as the National Rural Employment Guarantee Scheme.
Commerce and Industry Minister Anand Sharma addressing the USIBC on “India and the US – Partners for Prosperity” in Washington, DC on Wednesday.
Commerce and Industry Minister Anand Sharma addressing the USIBC on “India and the US – Partners for Prosperity” in Washington, DC on Wednesday.

Commerce and Industry Minister Anand Sharma addressing the USIBC on “India and the US – Partners for Prosperity” in Washington, DC on Wednesday.
He said the Indian government was looking forward to Ms Clinton's planned visit to India next month.
Speaking at the USIBC Summit, Mr Sharma observed that the existing level of trade and economic engagement between the two countries was not commensurate with the potential which existed due to India's far-reaching economic liberalisation.
Citing the findings of the study entitled "Contribution of the Indian industry to the US economy", prepared for the India Brand Equity Foundation, which he released at the Summit, the Minister said that that, during the period 2004-07, Indian industry had contributed $ 105 billion to the US economy and created 300,000 jobs.
He also stated that India and the US were partners in progress and could together shape the 21st century.
Ms Clinton delivered the keynote address at the meeting which was also addressed by US Commerce Secretary Gary Locke and US Trade Representative (USTR) Ron Kirk, among others.
Later, the Minister met Mr Kirk and discussed with him the way forward on the Doha Round of talks. They also discussed bilateral issues of mutual interest and explored ways and means of increasing bilateral trade and investment. They agreed to revive the dialogue on trade issues and to focus on resolving them to the extent feasible.
Commerce and Industry Minister Anand Sharma meeting U.S. Trade Representative Ambassador Ron Kirk in Washington, DC on Wednesday.
Commerce and Industry Minister Anand Sharma meeting U.S. Trade Representative Ambassador Ron Kirk in Washington, DC on Wednesday.

Commerce and Industry Minister Anand Sharma meeting U.S. Trade Representative Ambassador Ron Kirk in Washington, DC on Wednesday.
Mr Sharma emphasized that there were numerous opportunities that could be harnessed in the bilateral economic relationship even against the background of the global downturn. They welcomed the move towards resumption of Doha talks and agreed to work together towards resolving outstanding issues.
This was his second meeting with Mr Kirk; the two had met on the sidelines of the Cairns Ministerial Group meeting in Bali earlier this month.
Mr Sharma invited Ambassador Kirk to visit India for the meeting of the G 20 Trade Ministers as well as for bilateral discussions.
The Minister also had a meeting at the US Congress with the leadership of the Sub-Committee on Trade of the House Ways and Means Committee. In his meeting with Chairman of the Sub-Committee on Trade Representative Sander Levin and Ranking Member Kevin Brady, the focus was on the Doha Round. The Minister shared with the congressmen some details of the steady growth in Indian investments in the United States.
Ambassador Meera Shankar hosted a dinner reception in honour of Mr Sharma yesterday evening, which was attended by a number of Congressmen, officials and business leaders from India and the U.S.
NNN
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