`US will enhance trade ties with BRIC nations`

Last Updated: Thursday, December 1, 2011 - 15:00

Washington/New Delhi: In a bid to enhance its
trade relationship with emerging economies, the US will remove
trade barriers with India and Brazil and focus on the
implementation of stricter enforcement of IPR with China,
United States Trade Representative (USTR) Ron Kirk has said.

"... With Brazil and India, we`ll be utilising all
available resources to identify, address and remove barriers
to trade and investment between the United States and these
growing markets," Kirk said at the US Chamber of Commerce on
the country`s trade policy in Washington yesterday.

Growing markets -- India, Brazil and China -- offer
"significant opportunities" for US exporters, he said.

With respect to China, he said the US will carefully
monitor the implementation of commitments China made at this
year`s Joint Commission on Commerce and Trade (JCCT).

The Chinese obligations include enforcing intellectual
property rights (IPR) and protections more effectively,
ensuring a level-playing field for American firms, especially
in industry like new energy vehicles and removing certain
"indigenous innovation" requirements.

The Chinese made commitments on IPR that will enhance
protection of US innovative products and promote job creation
for Americans at the JCCT held last month in China.

These remarks by the US trade representative reflect the
country`s commitments to BRIC countries -- Brazil, Russia,
India and China.

With respect to Russia, Kirk said the US is assisting
efforts to expand the WTO member countries by including
Russia.

"To further strengthen the WTO, we are also assisting
efforts to expand the community of countries participating in
the rules-based global trading system. We are pleased Russia
is on track to become a WTO member, because Russia`s accession
will spur trade and support significant job growth in both
countries...," he said.

"Of course, to ensure that American firms and American
exporters will enjoy the same benefits of Russia`s WTO
membership as their international competitors, we look forward
to... and granting permanent normal trade relations status to
Russia as soon as possible," he added.

Russia is the biggest economy that is not a part of the
World Trade Organisation (WTO).

PTI

First Published: Thursday, December 1, 2011 - 15:00
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