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FTA-like India-US pact in pipeline

The Hindu | 9 January 2008

FTA-like India-US pact in pipeline

New Delhi (PTI): India on Wednesday said it is in talks with the US and Canada for a market-opening bilateral agreement, on the lines of trade pacts being negotiated with the European Union and the ASEAN.

"The bilateral trade agreements are currently in the pipeline with at least 10 potential partners ranging from ASEAN, the EU, US and Canada," Commerce and Industry Minister Kamal Nath said at the Pravasi Bharatiya Divas here.

He touched upon negotiations with the US and Canada in a prepared speech, text of which was circulated to the media. India has set a global engagement target of $550 bn, Nath said during the session.

"Currently, our global economic engagement is $450 bn and we have a target to take it to $550 billion," he said.

 source: The Hindu