Talks on India-GCC FTA to move forward this year: Nath
Economic Times, India
Talks on India-GCC FTA to move forward this year: Nath
24 April 2008
PTI/DUBAI: India today said talks on the free trade agreement between India and Gulf Cooperation Council are likely to move forward this year.
The two sides had earlier projected to sign the agreement by the end of 2007, but the target could not be achieved.
"We will push it forward and should make substantial progress in a year," Commerce and Industry Minister Kamal Nath told reporters without setting a deadline for reaching the agreement.
Nath, who was here on a two-day visit, said the process has suffered in terms of time since both the sides were busy with the World Trade Organisation negotiations.
Asked why it was taking so long to reach the agreement, the minister said the UAE-EU agreement has taken nearly 19 years, but "I am not saying that this one should take this long".
The GCC comprises Saudi Arabia, the United Arab Emirates, Bahrain, Kuwait, Oman and Qatar.
