India : Push to free trade deals.Byline: datta03 India is in an advanced stage of negotiating a free trade agreement with Japan, commerce minister Anand Sharma Shri Anand Sharma a politician from Indian National Congress party is a Member of the Parliament of India representing Himachal Pradesh in the Rajya Sabha, the upper house of the Indian Parliament. He is currently the Minister of State in the Ministry of External Affairs. said today. The country is also likely to sign a trade and investment treaty framework with the US during Prime Minister Manmohan Singh s visit to Washington later this month. India has also finalised the draft for the bilateral trade and investment treaty framework agreement and are waiting for the US side to do the same soon, Sharma said. India wants greater market access for drug firms, but Japan has been pressing for a bilateral agreement on government purchases. India is unlikely to agree to a mutually preferential treatment in government procurement Government procurement, also called public tendering, is the procurement of goods and services on behalf of a public authority, such as a government agency. With 10 to 15% of GDP in developed countries, and up to 20% in developing countries, government procurement accounts as a study by the United Nations Conference on Trade and Development United Nations Conference on Trade and Development (UNCTAD) Organ of the United Nations General Assembly, created in 1964 to promote international trade. Its highest policy-making body, the Conference, meets every four years; when the Conference is not in session, the shows that Japan will enjoy an advantage. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the study, the government procurement market in India is estimated at 5.8 per cent of GDP GDP (guanosine diphosphate): see guanine. , translating into around $34.22-billion worth of contracts every year. Officials said if government procurement was included in the agreement, Japanese firms would have to be treated on a par with Indian companies when the government called for bids. However, when the Japanese government places bids, Indian firms will not only have to compete with those from Japan but also from the European Union European Union (EU), name given since the ratification (Nov., 1993) of the Treaty of European Union, or Maastricht Treaty, to the European Community , the US and South Korea. In drugs, Indian firms are concerned about Tokyo s refusal to recognise American certification. Copyright : Euclid Infotech Pvt. Ltd. Provided by Syndigate.info an Albawaba.com company |
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