The United States has asked India to address what it called "longstanding impediments" like investment caps, agricultural market access barriers and high tariffs as they work on accelerating their bilateral economic relationship.
India and the US have pledged to together "try to reach for the stars" in fostering a stronger strategic partnership with enhanced bilateral trade and investment and economic, social and innovation linkages.
Leading business lobbies in Bangladesh and India have agreed to expedite bilateral trade and investment between the two countries and have laid out plans to bridge the USD 3 billion trade deficit.
India and Singapore are aiming to double their bilateral trade to $32 billion in the next five years, Commerce Minister Anand Sharma said in New Delhi on Tuesday.
The ministers reiterated their resolve to further strengthen the excellent bilateral ties which exist between the two countries, particularly in the areas of economy and commerce and allied fields," the external affairs ministry said.
Senior Chinese and United States officials will meet next week in Chicago for a high-level forum to address bilateral trade and investment issues and promote business opportunities.
The US President urged the Indian Prime Minister to relax the trade barriers in order to reduce their trade deficit. Speaking to the media at the historic Rose Gardens in the White House both the leaders appeared to be at ease with one another and read out statements that portrayed the importance of a strong US-India relationship.
Watched by the world media, both the leaders stressed the strong commitment being made towards bilateral relations.
The Commerce Ministry on Tuesday said the bilateral trade was a "win-win" situation for both US and India though the balance of trade was not in America's favour.
Trade ministers of India and Russia are expected to chalk out a roadmap for signing of a free trade pact with the Eurasian Economic Union and take up issues
Chinese President Xi Jinping will hold his first summit with US counterpart Donald Trump in Florida next week during which the two leaders are expected to set the tone for bilateral ties amid tensions over various issues like trade and the South China Sea dispute.
The World Summit on the Information Society (WSIS) Forum 2017 represents the world's largest annual gathering of the 'ICT for development' community. The annual WSIS Forum is a global multi-stakeholder platform facilitating the implementation of the WSIS Action Lines for advancing sustainable development. The Forum provides an opportunity for information exchange, knowledge creation and sharing of best practices, while identifying emerging trends and fostering partnerships, taking into account the evolving Information and Knowledge Societies.
The Central Government of India has agreed to allow the export of 11714.45 MT of potato, 19466.36 MT of onion, 67640.24 MT of rice, 59442.17 MT of wheat flour and 11706.30 MT of sugar for the FY of 2017-18 to the Republic of Maldives as per the bilateral trade agreement signed between the Government of India and the Government of Maldives.
ISLAMABAD: The government on Monday approved, in principle, the New Gwadar International Airport project at a cost of Rs55.4 billion, about 147% higher than the first revision, and also sanctioned a reduction in the scope of an important Gwadar road scheme.
The decisions were taken by the Central Development Working Party (CDWP) - a body having the mandate to scrutinize and approve development schemes and refer the mega ones for final ratification of the Executive Committee of National Economic Council (Ecnec). Planning Commission Deputy Chairman Jehanzeb Khan chaired the CDWP meeting.
The CDWP took up the New Gwadar International Airport project, which would be built with the help of Pakistan government funds and a Chinese grant of 1.52 billion yuan or Rs34 billion. The total cost of the project is Rs55.4 billion.
The new Gwadar airport is considered important for the development of Gwadar Port and its free zone. The Ministry of Planning is now gradually taking back the control of the China-Pakistan Economic Corridor (CPEC) after the CPEC Authority law lapsed four months ago.
The government has also brought back Hassan Dawood Butt to handle affairs in the next CPEC Joint Cooperation Committee (JCC) meeting. JCC is scheduled to meet this month and will take important decisions on the future roadmap of the multibillion-dollar strategic bilateral initiative.
Butt had earlier been the deputy project director of the CPEC support project but moved to Khyber-Pakhtunkhwa Board of Investment.
The original Gwadar airport project had been approved at a cost of Rs7.5 billion in 2010 and the revised one was cleared in 2015 at a cost of Rs22.2 billion. The CDWP approved the second revision on Monday with a cost of Rs55.4 billion, higher by Rs33 billion or 147% than the 2015 cost.
A key reason behind the increase in cost was that the new plan was based on a detailed design of the project.
The CDWP directed the Civil Aviation Authority (CAA) to review the possibility of c