Sharma leaving for US, to discuss Doha RoundJune 15th, 2009 - 9:24 pm ICT by IANS
New Delhi, June 15 (IANS) Commerce and Industries Minister Anand Sharma will leave for the US Monday night to discuss a range of trade related issues, including revival of the Doha Round of trade negotiations.
According to a statement issued by the commerce ministry, Sharma will address a high-level meeting of the US-India Business Council in Washington June 17.
The minister will also hold discussions with US Secretary of State Hillary Clinton.
During his three-day stay, the first official mission in the US as the commerce minister, Sharma will also meet US Commerce Secretary Gary Locke and Trade Representative Ronald Kirk.
“Sharma will discuss with Kirk the present scenario of the Doha round negotiations,” the statement said.
Last week Sharma said here that India preferred an early resumption of the Doha Round of trade talks that collapsed last year over serious differences between India and the US on tariffs, farm subsidies and market access.
The US is India’s largest trading partner and foremost export destination. It accounts for 12.71 percent of India’s exports and around 8.36 percent of imports.
India’s exports to the US during 2007-08 stood at $20.71 billion, while imports were worth $21.02 billion.
Also, the US is the third largest investor in India in terms of the actual foreign direct investment (FDI) inflow into the country. The FDI inflow from the US during 2008-09 was $1.8 billion.
The total FDI equity inflow from the US since April 2000 to March 2009 amounts to $6.33 billion.
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Tags: anand sharma, business council, commerce minister, commerce ministry, commerce secretary, early resumption, export destination, farm subsidies, foreign direct investment, gary locke, hillary clinton, india business, industries minister, inflow, market access, New Delhi, trade negotiations, trade representative, trade talks, us secretary of state