Beijing, Jan.14: Union Commerce and Industry Minister Kamal Nath today said that he would be meeting World Trade Organisation (WTO) chief Pascal Lamy on Wednesday morning on the sidelines of Prime Minister Dr. Manmohan Singh's ongoing three-day visit to China.
Addressing the Indian media here after the India-China Business Summit, Nath said Lamy's presence in China should be seen as important for both India and China, as both Asian economic giants were keen to redress existing economic and commercial imbalances vis-a-vis developing countries under the WTO regime.
India and China decided to coordinate positions on contentious trade and investment issues like agriculture, trade-related Intellectual Property Rights and public health at the WTO as far back as 2003. India and China have expressed resolve to resist attempts at dividing the developing countries during the WTO negotiations.
According to the WTO, Indian and Chinese industries will become significantly more competitive, as the United States, the European Union and Canada - by the far the world's biggest importers of textiles - open their markets.