Cancun, Sept 12: India's apex industry body Confederation of Indian Industry has landed in a controversy over the issue of its support to launching negotiations on trade and investment issues, opposed by developing countries. The European Union released a document on Friday in which CII along with Federation of German Industries and Federation of Netherlands Industry and Employers has supported a meaningful multilateral investment agreement saying "it can be a tool to foster foreign direct investment and thus development".

The document titled recommendations by these chambers for the Cancun Ministerial Conference of the WTO was released by European Union after CII denied EU Trade Commissioner Pascal Lamy's assertion on Tuesday that Indian Industry representative CII has also supported Investment rules even though the Indian Government opposed Singapore issues.
The document said the Indian, German and Netherlands business community attach the highest importance to successful conclusion of the Doha Development Agenda, resulting in win-win situations for all.
But CII, which had issued a statement yesterday refuting Lamy's observation, released yet another statement after the was document circulated by EU on Friday that CII has been selectively quoted by the European Union to mislead people on CII's position. Bureau Report