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TRADE

To boost bilateral business with EU

No compromise on farm subsidy, says Kamal Nath

London,PTI:

Ruling out any compromise on the question of agriculture subsidy at the WTO talks, India has agreed with the European Union to work for better bilateral trade ties.

Ruling out any compromise on the question of agriculture subsidy at the WTO talks, India has agreed with the European Union to work for better bilateral trade ties.

“We want to work more closely with the EU, our biggest trading partner, both to boost investment and to enlarge volume and range of trade,” Commerce Minister Kamal Nath told reporters here after his talks with the EU Trade Commissioner Peter Mandelson.

At the same time, he made it clear that in the WTO talks India would not move merely to meet the deadlines.

“India can not compromise and move forward in the WTO talks merely to meet the deadlines though we understand deadlines are important,” he said adding “there cannot be a compromise on agriculture subsidy.”

At the end of their talks covering bilateral and WTO issues, Mr kamal Nath and Mr Mandelson in a joint statement said they would agree on a basis for bilateral negotiations aimed at closer economic cooperation by October, when an EU-India summit takes place.

“Following our meeting today, our officials will discuss how to ensure that by the time we get to the EU-India Summit in October 2006 we have a clear road map of how our bilateral trade and investment agenda can be strengthened and we have an agreed basis on which to start bilateral negotiatio ns towards closer economic co-operation,” they said.

India, like the EU, hopes the Doha round will bring down barriers to trade in services that could benefit its booming services industry, including call centers and the outsourcing.

EU, STATE PLAN IT FAIR

Bangalore, dhns: Council of European Union Chambers of Commerce in India (EU Chamber) on Thursday announced its latest initiative ‘EU-Karnataka IT-Asia Interprise 2006’, which will explore opportunities to generate trade in the IT sector.

EU Chamber, an organisation promoting trade and investment between European countries and India, will hold a business-to-business meeting event aiming to stimulate business co-operation between SMEs in India and 10 European member states. It will be held in Bangalore on 30-31 October 2006.

Briefing reporters here European Commission Advisor Nishikant Hate said the programme provides companies with information necessary to make decisions on partnerships, markets and investments. Financial and technical support for meetings are also provided to the companies.”

The two-day event will bring together SMEs in Karnataka, India and 10 EU member countries for business-to-business meetings. About 80-100 SMEs will be selected from India’s IT and ITES sectors.

“Indian companies will be provided training and orientation for doing business in the EU and EU companies will also be oriented about India as a market,” said Christina Soderstrom, Director, Euro Info Centre, Sweden.

The project is funded by European Commission’s Asia Invest Programme, launched in 1997 to promote and support business co-operation between the EU member states and Asia.