Business Daily from THE HINDU group of publications
Saturday, Nov 18, 2006
ePaper


News
Features
Stocks
Cross Currency
Shipping
Archives
Google

Group Sites

Industry & Economy - Foreign Trade
Government - Foreign Relations
Kamal Nath hopeful of resolving EU issue

Our Bureau

Trade barriers on imported wine, spirits


The EU's contention is that India maintains a tariff and tax system that is not in line with the international commitments.


FOR ENDING BARRIERS: The European Union Trade Commissioner, Mr Peter Mandelson, and the Minister for Commerce and Industry, Mr Kamal Nath, after the bilateral talks in the Capital on Friday. — Kamal Narang

New Delhi , Nov. 17

The Commerce and Industry Minister, Mr Kamal Nath, on Friday expressed hope that a "satisfactory solution" would be found to the issue of alleged trade barriers maintained by India on imported wine and spirits from the European Union (EU).

Some months ago, the EU had conveyed to the Indian Government that it plans to approach the World Trade Organisation's dispute settlement body over the trade barriers maintained by India on imported wine and spirits. It, however, had not called for formal consultations on this issue.

EU contention

The EU's contention is that India maintains a tariff and tax system (in respect of wine and spirits) that is not in line with the international commitments.

"We are continuing our discussions with the EU on this issue. It was discussed today and would be discussed tomorrow. We have some concerns not merely in terms of revenue but also in terms of reciprocity. I hope this would not go to the dispute settlement body," Mr Kamal Nath told newspersons after his bilateral talks with the EU Trade Commissioner, Mr Peter Mandelson, here on Friday

Mr Mandelson said that discussions were on and pointed out that the EU had so far not called for any consultations with India on this issue. He highlighted that the issue of "dispute" could arise only after formal consultations and then only the dispute settlement body could be approached.

Meanwhile, Mr Mandelson said that both India and the EU agreed to begin negotiations in due course on a wide-ranging trade and investment agreement.

He said that the High Level Trade Group would meet on December 14 and 15 to take this forward.

Trade, investment pact

The EU Trade Commissioner indicated that the signing of the comprehensive trade and investment agreement between India and the EU would take at least two years from the date of the launch of negotiations. He also said that this agreement would be a building block for the WTO agreement. On bilateral trade between India and the EU, Mr Mandelson said: "Our trade is doing well, but it can do much better for the mutual benefit of both India and Europe".

At Friday's bilateral talks, both sides renewed their joint commitment to the WTO. Mr Mandelson said that resumption of work in Geneva was necessary and welcome. He highlighted that the direction that the US takes on farm subsidies was pivotal to rest of the agricultural negotiations and the rest of the Doha talks.

More Stories on : Foreign Trade | Foreign Relations | WTO

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page



Stories in this Section
Pact for funding infrastructure projects in TN


Centre finalising Act to regulate street hawking, says Minister
Sporty raffle
Cement sector remains positive
9 new Indian billionaires in Forbes' list
A rice variety that can earn carbon credits!
Higher fertiliser, wheat imports cause problems at Vizag
Kamal Nath hopeful of resolving EU issue
US trade teams to visit Kolkata
Kerala to form company for infrastructure
Kinfra plans food processing SEZ in Malappuram
India to re-negotiate gas price with Iran
MRPL: No discounts on LPG, kerosene
Foreign offshore ships to face tighter entry norms
Reliance, Videocon sign separate pacts in Timor
BP signs production sharing deal for coal bed methane block
Indo-US nuke deal: Final legislation awaited
Over 60,000 corporate tax returns e-filed
Texprocil signs pact with Uzbekistan
Symantec to reach out to SMEs via channel partners
Vendor development programme
Adobe India chief's kidnapped son rescued
TRAI gets response from 10 stakeholders
B-school students to visit Pak
PG course in nuclear engg
Stress on communication skills
Varsity in pact with San Diego B-school
Quality can't be sacrificed for quantity: Rangarajan
Managing management education
Malayalam Web site on education
`Globalisation offers scope for students to tap biz avenues'
Power sector to gain
`Economics is a fascinating discipline'
Vietnam, Pennsylvania woo Indian investors
New tourism policy on the anvil in Karnataka


The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | The Hindu ePaper | Business Line | Business Line ePaper | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright 2006, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line