Wednesday, May 26, 2010

pm trade council meet

op industrialists and businessmen are at

By Delhi correspondent

Rattan Tata, Mukesh Ambani, Sunil Mittal, Anil Ambani
and Chanda Kochchar with other top industrialists and 
businessmen have arrived at 7 Race Course Road to attend
the Prime Minister's  Trade advisory Council meeting
being presided over by the Prime Minister.

Senior Union Minsters and secretaries to Government of India
are present at the Meeting.It began at 430 pm is expected to go upto
6 pm.


The Trade and Economic Relations Committee

Constituted on 3rd May 2005, the Trade & Economic Relations Committee is an institutional mechanism for evolving the extent, scope and operational parameters of our economic relations with other countries in a coordinated and synchronized manner.
The Committee is serviced by the Prime Minister’s Office, which may obtain assistance as required from any Ministry/Department/Agency of Government.
The composition of the Trade and Economic Relations Committee is as follows:-  
(a)       Prime Minister                   -           Chairman
(b)       Finance Minister
(c)       Commerce & Industry Minister
(d)       External Affairs Minister
(e)       Deputy Chairman, Planning Commission
(f)        Chairman, Economic Advisory Council
(g)       Chairman, National Manufacturing Competitiveness Council
(h)       National Security Adviser
(i)        Principal Secretary to PM    -          Convenor
The Secretaries of the Departments of Economic Affairs, Revenue, Commerce, Industrial Policy & Promotion as well as Secretary, Planning Commission and Foreign Secretary, are permanent invitees to the meetings of the Committee.
The Chairman may invite any other Minister/Officer to any meeting of the Committee depending upon the context.
The Committee would engage in the following tasks:
(a)   Suggest mechanisms for promoting economic cooperation through various arrangements such as Joint Study Groups, Task Forces, Negotiating Teams, etc.
(b)   Suggest the extent and scope of economic engagement with the identified countries.
(c)   Commission studies which would be valuable inputs in arriving at suitable decisions.
(d)   Examine proposals for economic coordination between India and the identified countries.
The Committee has held thirteen meetings till date, in which the following issues have been discussed:
1.      India’s engagement in regional trading arrangements
2.      Investments, both into the country and by India abroad
3.      Economic relations with the US, with special emphasis on the Small
        and Medium Enterprises sector
4.      Economic relations with the EU
5.      Free Trade Agreement between India and the Gulf Cooperation
6.      India’s economic engagement with Bangladesh and Pakistan, esp in
         the context of textile trade
7.      India’s economic engagement with Korea
8.      Status of negotiations in the WTO
9.      Progress on South Asian Free Trade Area
 10.     Economic Engagement with BIMSTEC
 11.     Proposed Framework Agreement with SACU
 12.     Proposed Comprehensive Economic Cooperation and Partnership
          Agreement (CECPA) and progress on PTA with Mauritius
 13.     Recommendations of the India-Israel Joint Study Group        
 14.     Progress on India- ASEAN FTA
 15.     Proposed JSG between India and Russia        
 16.     Proposed areas of Trade Cooperation among India, Brazil and 
        South Africa  
 17.     CECA between India and Indonesia
 18.     Unilateral Tariff Preference Scheme for LDCs
 19.     Setting up of a National Center for International Trade Policy
 20.     Progress on India- Chile PTA
 21.     Progress on India- Mercosur PTA   
 22.     Constitution of a JWG to study the feasibility of a comprehensive
           FTA among SACU, India and MERCOSUR
 23.     Issues relating to India-Japan Joint Study Group
 24.     Open skies agreement with ASEAN
 25.     Trade and Economic Framework between India and Australia
 26.     Issues relating to India-EU High Level Trade Group     
 27.     Progress on Indo- US economic dialogue
 28.     Comprehensive Economic Partnership Agreement ( CEPA)  with 
          Republic of Korea
 29.    Comprehensive Economic Partnership Agreement ( CEPA )with 
 30.    India- Thailand Free Trade Agreement
 31.    Negotiations under ASEAN – India Free Trade Agreement
 32.    Finalization of Joint Task Force Report for Regional Trading  
          Arrangement with China
 33.    Constitution of a JSG between India- European Free Trade 
 34.    Setting up a Joint Task Force based on India- Russia Joint Study 
          Group Report
 35.     Adoption of India - Malaysia Joint Study Group Report
 36.     Progress on the GCC- India FTA negotiations and Economic 
          Relations with Saudi Arabia in particular


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