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Nath urges EPCs to tap emerging markets

Mar '07
Shri Kamal Nath, Minister of Commerce & Industry, has asked all Export Promotion Councils (EPCs) and related agencies to prepare country-specific export strategies in order to tap the growing trade potential of emerging markets.

Presiding over the Fourth Meeting of the Board of Trade here last night, Shri Kamal Nath emphasised in particular the need to look at Africa and the Caribbean countries, CIS including the Russian Federation and some of the East Asian countries, which had been witnessing an economic surge.

“If we do not occupy the space now, somebody else will”, the Minister said while urging the exporters to make all out efforts to penetrate non-traditional markets.

He also said that trade facilitation measures would receive the highest priority as a means of reducing transaction cost in order to enhance the global competitiveness of Indian exports. Procedural irritants facing exporters would be removed, he added.

Shri Jairam Ramesh, Minister of State for Commerce attended the meeting along with Shri G.K. Pillai, Commerce Secretary; Shri B.S. Meena, Director General of Foreign Trade (DGFT); and other senior officials from various Ministries including the Ministry of Finance and Textiles.

In response to a query, the Minister indicated that the Annual Supplement to the Foreign Trade Policy 2007 would be announced sometime in the first week of April.

Participants from trade and industry complimented the Ministeron India achieving 1% share of global trade, while giving their inputs for the forthcoming Annual Supplement to the Foreign Trade Policy.

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