Traders and exporters from India will have to accept increasingly strict inspections at the US land and air ports in the aftermath of 9/11 attacks, George N Sibley, consul general, United States of America said in Kolkata on Wednesday.
Speaking at an interactive session organised by the Calcutta Chamber of Commerce on "New World Order - Its Economic Implications", Sibley said the US was passing some laws that would allow US authorities to inspect items exported to that country.
"Expect new rules and regulations in this regard. But you can be rest assured that those would be implemented in open and transparent manner," the consul general said.
He pointed out that the US has been one of the 'free' country in terms of trade barriers where most of the tariff was lower than even 5 per cent. "However, it was now the choice between principle of free trade and national security, which cannot be ignored following terrorist attack on the US soil," he pointed out.
Elaborating on rules to be promulgated soon, Sibley said containers and food consignments were expected to be subjected to close inspections. US was India's biggest trade partner and such rules may increase cost of exported items.
Speaking about the future of Doha round of trade talks, the consul general expressed doubt over fulfilment within January 1, 2005. The Doha trade treaty, which would include pacts on agriculture and service sectors, was expected to be in place by that time.
"However, I do not think agreements would be signed by that time. It is bit ambitious. Either more time has to be provided or the scope of the agreement has to be scaled down," Sibley said. Talking about India, he said the country has still very high tariff barrier which needed to be brought down.
He also pitched for embracing global norms in intellectual property rights. The seminar was also attended by P D Tulsyan, president of CCC.
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