Friday, April 11, 2008

India to Lower Trade Barriers for Least-Developed Countries

India to Lower Trade Barriers for Least-Developed Countries
(International Herald Tribune)

The Indian prime minister pledged easier access for exports from the world's poorest countries and called for fairer global economic and political representation as he opened a summit with African leaders Tuesday.

Hosting leaders from more than a dozen African nations as it tries to emerge from China's shadow, India is expected to offer its skills in low-cost services and manufacturing in return for access to natural resources and food supplies.

But Prime Minister Manmohan Singh was clearly also eyeing political benefits, at a time when India is pursuing a seat on any expanded United Nations Security Council to match its growing economic clout.

"No one understands better than India and Africa the imperative need for global institutions to reflect current realities and to build a more equitable global economy and polity," Singh told the assembled heads of state and ministers, among them President Thabo Mbeki of South Africa.

Singh said that products to be covered under the new export regime would include cotton, cocoa, aluminum and cooper ores, garments and industrial diamonds.

"Under this scheme, India shall unilaterally provide preferential market access for exports from all the 50 least developed countries," Singh said at the inauguration of the first India-Africa summit, adding that 34 of them were in Africa. …

Read the complete article at

No comments: