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Busy day for Kamal Nath at Davos

Nath's busy schedule included a meeting on Shifting Trade Winds, BBC's world debate, a session on Indo-US Partnership.

india Updated: Jan 28, 2006 17:35 IST

In a hectic schedule of engagements during the annual session of the World Economic Forum (WEF) in Davos on Friday, Commerce and Industry Minister Kamal Nath participated in a series of important meetings.

Mr Kamal Nath's busy schedule included a meeting on Shifting Trade Winds A Vision for 2020 (participants included Richard N Cooper, Professor of International Economics, Harvard University, David Abney, President, UPS International and Pascal Lamy, Director General, WTO), The BBC World Debate on Jobs Where will they Come from Next; a session on Indo-US Partnership and an Informal Gathering of World Economic Leaders on the Doha round issues.

Participating in the BBC World Debate along with Shri Kamal Nath were: Ahmed Mahmoud Nazif, Prime Minister of Egypt, Ellen Johnson-Sirleaf, President of Liberia, Sheikh Hashem Bin Abdullah Bin Hashem Yamani, Minister of Commerce and Industry of Saudi Arabia, Elaine L. Chao, US Secretary of Labour, Kamal Dervis, Administrator, UNDP-New York, Donald Johnston, Secretary General of the Organisation for Economic Cooperation and Development (OECD), Min Zhu of the Bank of China and Gunter Verheugen, Commissioner Enterprise and Industry European Commission, Brussels.

Addressing the Indo-US Partnership session, Mr Kamal Nath said the Indo-US relationship was on an upswing with the US ranking as India's largest trading partner accounting for almost 18 per cent of India's total exports and also as largest investing country in India in terms of FDI inflows and portfolio investment.

`4The economic synergies between our two countries are enormous. This is already visible in the sphere of information technology. Nearly half of all Fortune 500 companies today outsource some component of their back office operations from India.

On the sidelines of WEF, Mr Kamal Nath also attended a meeting of theG-6 which was hosted by Mr Mark Vaile, the Trade Minister of Trade of Australia. The ministers reviewed the position on Doha round issues ahead of the mini-ministerial of the World Trade Organisation (WTO).

First Published: Jan 28, 2006 17:35 IST