Industry & Economy
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Foreign Trade
Kamal Nath seeks Belgian initiative to address NTB issues
Our Bureau
New Delhi
,
March 14
THE Commerce and Industry Minister, Mr Kamal Nath, on Monday sought Belgian initiative to settle the issues of non-tariff barriers (NTBs) faced by Indian exporters in the European Union (EU).
Addressing the `Indo-Belgium: Building strong partnership' meet, organised by the Confederation of Indian Industry (CII) here on Monday, Mr Kamal Nath held that these NTBs were being erected on supposed grounds of health and sanitary and phytosanitary standards.
He noted that there were large gaps in India's infrastructure and energy sector and suggested that Belgium could play an important role in filling this gap.
He also called for concerted efforts to bridge the gap between approvals and actual flow of foreign direct investment from Belgium. Indo-Belgium bilateral trade during 2003-04 stood at $ 5.7 billion against $ 5.37 billion during 2002-03, registering a growth of about 6 per cent.
He also held that the existing restrictions on visa and work permits for professionals and businessmen moving from India to Europe needed to be removed to facilitate greater bilateral engagement.
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