Anand Sharma assures review of Posco project
Union Commerce, Industry and Textiles Minister Anand Sharma, who met Sukwoo Hong, Minister of Knowledge Economy of the Republic of Korea, on the sidelines of the ongoing Partnership Summit at Agra today assured the review of Posco project.
In his meeting with Sukwoo Hong, Sharma said that CEPA has led to improvement in trade but in order to achieve the targets, redoubling of efforts is needed in Textiles and Pharma sectors.
The Korean Minister briefed Sharma about the candidature of Taeho Bark of South Korea for the post of DG WTO.
Korean side raised the issue of delays in Posco project clearance emphasizing the importance of the project for enhancing the economic ties between the two countries. They pointed out that this is the biggest FDI proposal in India.
Sharma, who assured them on this count, said: "we are concerned about the delays and will be conducting a review. The Prime Minister himself is monitoring the issue."
During his meeting with Sheikha Lubna Bint Khalid Al Qasimi, Minister of Foreign Trade, UAE, Sharma informed that new opportunities have been created by the recent policy reforms in India and invited UAE to invest in various areas, especially in the infrastructures sector.
The UAE Minister suggested that India should participate in 'country presentations', which is an important modality of making investment decisions in UAE.
Sharma and the UAE Minister agreed that the first meeting of the India-UAE High Level Task Force on Investment, for which Sharma is the co-chair from the Indian side, should meet at the earliest. The co-chair from the other side is Sheikh Hamid Al Nahayan of ADIA.
Sharma also informed that a delegation of airlines Etihad of UAE will meet him in next couple of days. He emphasized that the total trade with UAE accounts for USUSD 73.81 billion, with UAE being India's top global partner, accounting for 9.02 percent of India's trade with the world and consequently India attaches highest importance to our relationship with UAE.
Sharma and Slovenian Deputy Prime Minister and Minister of Economic Development and Technology Radovan Zerjav reviewed the bilateral economic ties and witnessed the signing of three MoUs.