The Hindu Business Line : India, Brazil stress need to resume trade talks in Geneva

IN the face of fissures within the G-21 with important original members such as Colombia, Costa Rica, Peru, Guatemala and Ecuador deserting from the camp under unrelenting pressure from the US, India has been holding intense talks with other founder members such as Brazil and China in the past few days.

The Brazilian Minister for External Relations, Mr Celso Amorim, on Monday met the Union Commerce and Industry Minister, Mr Arun Jaitley, here and both the leaders exchanged views on both bilateral and multilateral trade issues, especially in the wake of the post-Cancun scenario. Both the Ministers underlined the need for multilateral trade negotiations to resume at an early date in Geneva so that the process could move forward.

The two Ministers also discussed bilateral trade issues including the two-way flow of foreign direct investment and participation of enterprises from both the sides in the economic development of the two countries.

Mr Jaitley highlighted the scope for Brazilian construction companies to invest in the infrastructure sector in India, while Mr Amorim responded by pointing out to the vast investment opportunities for Indian companies in the pharmaceutical sector in Brazil.

Besides Monday's talks with the Brazilian Minister, the South African Trade Minister, Mr Alec Erwin, accompanied by an official delegation was in New Delhi and held discussions with the Commerce Secretary, Mr Dipak Chatterjee, on multilateral and bilateral trade issues. More recently, in Beijing, Mr Jaitley held discussions with his Chinese counterpart on trade issues.

Though official sources do not openly concede that there is a pattern in India's ongoing talks with the visiting Ministers of South Africa, Brazil and Mr Jaitley's visit to China accompanying a delegation of Indian industrialists, New Delhi's meeting with important ministers of Brazil and South Africa and China in recent days needs to be seen in the context of the first meeting of the WTO's General Council beginning in Geneva on Tuesday to pick up the thread of talks left unfinished at the Cancun Ministerial held in September.

Article E-Mail :: Comment :: Syndication

Stories in this Section
Tornadic `waterspout' seen at Kovalam

AIMO industrial awards

Jurists apprehensive of Malimath report

Urban waste remains a mounting problem

India, Romania to strengthen ties

`Indian asbestos cement not a health hazard'

L&T sets record in stadium construction

R&D fund for pharma remains a non-starter

Gas supply linkages for Bidadi project still hanging fire

APGenco registers highest PLF

`Affordable power to weaker sections is a viable option'