Business Daily from THE HINDU group of publications
Saturday, May 24, 2008
ePaper | Mobile/PDA Version | Audio
Business Daily from THE HINDU group of publications Saturday, May 24, 2008 ePaper | Mobile/PDA Version | Audio |
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Industry & Economy
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Foreign Trade US steps up efforts to forge bilateral investment pact Our Bureau New Delhi, May 23 The US administration has stepped up efforts towards forging a bilateral investment pact with India. “We have had further discussions on the Bilateral Investment Treaty with the Indian side. We hope to accelerate the pace of the negotiations,” visiting US Assistant Secretary of State for Economic, Energy and Business Affairs, Mr Daniel S. Sullivan, told newspersons here. He said the successful conclusion of the proposed treaty between the two countries will deepen the strategic partnership and would further enhance business-to-business and government-to-government contact between the two sides. The first round of negotiations held in February reflected a strong desire between the two sides to conclude the treaty, Mr Sullivan said. A bilateral investment agreement can help protect private investment, develop market-oriented policies in partner countries, and promote US exports, according to the US Trade Representative office Web site. It also encourages the adoption of market-oriented domestic policies that treat private investment in an “open, transparent, and non-discriminatory way.” Mr Sullivan said the US was in favour of India, along with China, to increase their engagement with the International Energy Agency (IEA). “We think it is increasingly important to have some of the most important economies and energy consumers such as India and China more deeply involved in the IEA,” said Mr Sullivan, who is the American envoy to the Paris-based IEA. He said that India and China have been invited to participate in an emergency response exercise next month and “a logical step beyond that would be consideration of the membership.” More Stories on : Foreign Trade
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