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Doha Round may soon see the Day of Light

New Delhi, November 16, 2006

Long stalled agricultural debate over the Doha Development Round has finally assumed the importance among decision circles of India and EU. A breakthrough is expected in the deal during the visit of the EU Trade Commissioner, Mr. Peter Mandelson to New Delhi on 17-18 November 2006.

The Doha Round of negotiations needs to get back on track at the earliest to make the India-EU Trade and Investment Agreement ambitious and meaningful. This trade relationship is likely to bolster bilateral relationship which at present hinges at an average growth rate in goods trade of 11 per cent.

The 25-nation EU is India's largest trade partner accounting for a fifth of India's trade. Indian exports to EU amounted to Euro 21.1 billion in 2005 of which the majority was textiles and clothing, agricultural products and chemicals. India imports products worth Euro 18.9 billion in 2005 from EU covering machinery, chemical products and gems and jewellery.

Thus a positive step in this direction can bring prosperity to both nations making their bonding in trade even more worthy and faithful.

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