INDIA COMMITTED TO ENGAGE CONSTRUCTIVELY TO REACH A FAIR AND BALANCED OUTCOME OF DOHA ROUND
NORWEGIAN MINISTER MEETS KAMAL NATH
Date : 05 Feb 2009
Location : New Delhi
Shri Kamal Nath, Union Minister of Commerce & Industry, has reiterated that India would remain committed to engage constructively to reach a fair and balanced outcome of the Doha Round of WTO negotiations. During the bilateral meeting with the Norwegian Minister of Agriculture and Food, Mr. Lars Peder Brekk, here today, Shri Nath said that “despite all our efforts, we were unable to conclude the modalities in agriculture in the WTO, but the intensive process of discussion resulted in a richer understanding and a better appreciation of the sensitivities of various members/groups of members.” He further added that on many specific issues that seemed intractable in the past, considerable progress has been made and members must now build on that progress.
Both the Ministers noted that the bilateral cooperation should be strengthened in the areas of marine products, power and oil sector. The bilateral trade between India and Norway during 2007-08 was US $ 1890 (exports - $ 264 million and imports - $ 1626 million). Main exports to Norway were – transport equipments, manufactured of metals, RMG cotton, machinery & instruments etc., while imports from Norway include electric machinery, transport equipments, electronic goods and non-ferrous metals etc.
The cumulative foreign direct investment (FDI) inflows from Norway during 1991-2008 (up to October 2008) was US $ 34.74 million. Top sectors attracting FDI inflows from Norway were metallurgical industries, electrical equipment, sugar, drugs & pharmaceuticals and telecommunications.