US for bilateral approach as WTO talks stall
The US has favoured a bilateral approach to sorting out issues with India that are preventing market access in both countries as the World Trade Organisation (WTO) process is getting delayed.
By PTI |
NEW DELHI: The US has favoured a bilateral approach to sorting out issues with India that are preventing market access in both countries as the World Trade Organisation (WTO) process is getting delayed.
No Free Trade Agreement (FTA) or preferential with India is in the offing but a bilateral approach could be used for dealing with issues of market access as was done in the case of Mango, Deputy US Trade Representative Karan Bhatia said on the sidelines of a conference organised by CII.
He admitted that a bilateral approach would speed up market access as the Doha round remains stalled on agriculture subsidies and tariffs.
During the visit of US President George Bush to India, the US had agreed in-principle to allow import of Indian mangoes, which were earlier restricted due to sanitary and phyto-sanitary regulations. Earlier, a proposal had also been mooted to have a Free Trade Agreement in Services between the two countries.
Making a pitch for greater openness on the part of India, he said it would spur its growth and economic engagement with US, and added that the country's satellite communication sector should be opened up.
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Pointing to a paper by TRAI, Bhatia said the Indian regulator also wants the satellite communication market to be opened up as it would create capacity and enable the communication sector to provide better services.He also favoured greater openness by India in financial services and agriculture.
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