The Bush administration has suggested a bilateral
approach to sorting out issues with India that are preventing
market access in both countries rather than waiting
for the World Trade Organisation (WTO) to conclude its
bilateral approach in dealing with issues of market
access as was done in the case of mango could speed
up market access and give a fresh impetus to Indo-US
trade, deputy US trade representative Karan Bhatia said
on the sidelines of a conference organised by CII.
Doha round of world trade talks remains stalled on agriculture
subsidies and tariffs.
US had in-principle agreed to allow import of Indian
mangoes, which were earlier restricted due to sanitary
and phyto-sanitary regulations, during President Bush''s
visit to India.
however, wanted greater openness on the part of India
to spur its growth and economic engagement with US.
Bhatia emphasised on opening up sectors like satellite
communication, financial services and agriculture.
India, meanwhile, said there are "strategic flaws"
in the global trading system and these need to be corrected
for resumption of the Doha Round of WTO talks, which
are suspended since July.
should not only be "relaxation" but also "justice"
in the global trading system, commerce minister Kamal
Nath said in the Lok Sabha in reply to questions, adding
the government was proceeding in the WTO talks with
this objective in mind.
has been engaged in the WTO negotiations to ensure its
"core concerns and interests" continue to
be adequately addressed, he said, adding that India''s
accession to the WTO regime has overall been beneficial
for the country.