India, US to ensure safety of traded products

"The signing of MoU underscores the commitment of both countries to improve safety of traded consumer products and provides the basis for undertaking cooperative endeavours with a view to enhance the quality and safety of consumer products", a statement here said.

The MoU was signed by L Mansingh, secretary, department of consumer affairs, government of India and Hal Stratton, chairman of US consumer product safety commission.

Besides exchange of information, the MoU calls for development of training programs and exchange of experts on consumer safety issues for promoting the interests of consumers on a continuous basis.

Bilateral trade between India and the US is growing rapidly, which is also reflected in India's exports of consumer products to US.

India ranked eleventh in exports of consumer products to the US in 2004, accounting for approximately two per cent of US global import of products under CPSCs jurisdiction.

India's exports under this category were US$8.3 billion in 2004, a 21 per cent increase since 1997.

The six-member delegation led by Mansingh also held meetings with Rueben Jeffery III, chairman and the senior officials of Commodities Futures Trading Commission, Federal Trade Commission and private sector representatives in the US commodities market.

In New York, the delegation held discussions with Mitchell Steinhause, Chairman New York Mercantile Exchange, Fred W. Schonehut Chairman, New York Board of Trade.