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Tariffs & other trade barriers need to be brought down

Apr '07
A Private Sector Advisory Group of US and Indian international business and trade experts has been formed to provide strategic recommendations and insights to the US-India Trade Policy Forum, announced Ambassador Susan C. Schwab, United States Trade Representative at a session on " Indo-US Trade Investment: The Agenda for Growth " , organized by the Confederation of Indian Industry (CII), here.

The membership of the Private sector Advisory Group includes some of the most influential voices in the US and India on international economic and trade policy, she added.

Referring to India-US Trade Policy forum, established during Prime Minister Singh's visit to the United States in 2005, Ms Schwab said “We seek to bring down tariffs and other trade barriers that stifle trade, increase production costs and raise consumer prices”.

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Since its inception, the Forum has helped facilitate increased agricultural trade in both directions, enhanced the investment climate, increased transparency in both the governments, and worked to share knowledge and experience from our most innovative sectors, she added.

“Through the trade policy forum and its various working level groups, we have created the architecture that will support a growing bilateral economic and trade relationship for years to come”, she noted.

Speaking at the session, the Commerce Minister, Mr. Kamal Nath, stressed on the need to have a rules based international trade sytem which would ensure that the benefits of trade reach all countries in the world.

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