New Delhi, Oct 03: With domestic currencies remaining stable against dollar, Asian economies like India could make inroads into European markets without losses in the US, according to UNCTAD. But such exchange rate re-alignment could be a source of friction in the international trading system, UNCTAD said in its trade and development report.
It also said India and China could maintain export growth unlike other Asian countries where volumes fell drastically due to diversified product portfolio.
"For Asian developing countries, with relatively stable currencies against the dollar, there will be opportunities for expansion in European markets without losses in us," it said.
Overall, therefore the currency movements underway might increase the global market share of the Asian countries, it said, adding, "this could be a source of new frictions in the international trading systems." Bureau Report