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News of the week8nov
1.
2. US concerns that India's complex system of import
tariffs, "opaque" foreign investment rules and non-
tariff barriers were slowing bilateral trade and
investment.
India is only the U.S 14th biggest trading partner
and obstacles, from outsourcing controversies to
market access to the Doha world trade round, have
put the brakes on faster integration.
Bilateral trade opportunities for India and the U.S
in sectors like energy, infrastructure and medical
equipment.
3. P.M said India opposed "protectionist sentiments"
and desired "an open, stable and rule-based
international economic development” whether in
the field of trade, investment flows, technology
transfers or open markets.
He said the world needed a new balance
between deficit and surplus countries, referring
to the US and China at the two ends of the
spectrum shaking the currency markets.
4. The Pakistan government has allowed duty-free
import of 15 varieties of fresh vegetables from
India through the Attari check post at Amritsar .
The move comes after Pakistani importers and
trade associations pushed their govt. to take steps
to reduce inflation in the country following the
floods that devastated crops in Pakistan.
Importers who have been sending perishable items
through the bi-weekly Samjhauta Express have
largely welcomed the development.
5. India and Germany will sign a joint declaration
next week to further strengthen bilateral
cooperation in agriculture and food processing
sector.
The German agriculture minister, who will be here
on a four-day visit starting November 14, will hold
talks with ministers to explore ways to intensify
bilateral cooperation in food processing sector.
She will also look at strengthening participation in
food fairs in Germany and vice-versa, flow of
investment and transfer of technology.
6. India will join China in filling up Canadian stores
with cheaper goods once New Delhi and Ottawa
sign a free trade agreement.
The agreement will be boon for business owners.
Trade between Canada and India totals about $4
billion - the goal is to boost that to $15 billion.
After US recession which is Canada's main buyer,
Ottawa is trying to lessen dependence on its big
neighbor by signing free trade agreements with
many other nations.