India, UK launch trade committee

Commerce Minister Kamal Nath and UK Secretary of State for Trade and Industry Patricia Hewitt on Wednesday launched the India-UK Joint Economic and Trade Committee aiming to strengthen bilateral relations.

JETCO was announced in the joint declaration signed on September 20, 2004 by Prime Minister Manmohan Singh and British Prime Minister Tony Blair.

Speaking after signing the agreement on the committee, Nath said it would provide the institutional mechanism to build on the existing relationship and play a vital role in doubling trade from the current $6 billion.

He said it would identify areas where trade could be enhanced besides pointing out the obstacles and barriers.

Hewitt said JETCO would be a vital link between the British and Indian economies and provide the framework for improving business-to-business links.

The committee will be co-chaired by Commerce and Industry Minister of India and Secretary of State for Trade and Industry, UK.