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Union Minister of Commerce address at WEF-DAVOS
25
Jan '08
Shri Kamal Nath, Union Minister of Commerce and Industry, has stated that India is studying the possibilities for a long-term trade and economic cooperation agreements with China, which is emerging as a major trade partner of India.

He was addressing a select group of International Business leaders at a session on "India's International Agenda" at Davos last evening, and added that this process has been boosted with the Prime Minister's recent visit to China.

He further stated that India is also working on a comprehensive relationship with the Gulf Cooperation Council, and has signed framework agreements for cooperation with South African Customs Union and COMESA in Africa and with MERCOSUR and Andean Community in South America besides forming regional trade and economic alliances and signing Free Trade Agreements and Preferential Trade Agreements with other countries and trade groups, for market access and greater economic clout.

India has an FTA with Thailand and a Comprehensive Economic Cooperation Agreement with Singapore. He informed that participants that India has formed a strategic trilateral group IBSA (India-Brazil-South Africa) with the two emerging powers of Africa and Latin America to promote economic, commercial and political cooperation and to advance our common interests globally. Shri P. Chidambaram, Finance Minister and Shri Praful Patel, Minister for Civil Aviation also addressed the group.

Emphasising that India's international agenda is linked to its growth story and also to its increased integration with the world Shri Kamal Nath added that "this is currently only at the appetizer stage.


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