American Lawmakers to help India join APEC

Matt Salmon, Chairman of the House Subcommittee on Asia and the Pacific said, “Membership in APEC (Asia Pacific Economic Cooperation) would provide India a constructive forum to glean insight from other Asian countries that have already taken significant steps to advance their economies." The Dollar Business Bureau

Asia Pacific Economic Cooperation (APEC), is a forum of 21 economies set up with a view to promote free trade throughout the Asia- Pacific region

To help India join the APEC forum, the US legislators sympathetic to India have initiated a legislation in the US congress. The thought behind this was an economically progressive India would benefit the strategic goal of US in Asia. Matt Salmon, Chairman of the House Subcommittee on Asia and the Pacific said, “Membership in APEC (Asia Pacific Economic Cooperation) would provide India a constructive forum to glean insight from other Asian countries that have already taken significant steps to advance their economies.” He also added that, “Indian Prime Minister (Narendra) Modi is striving for major economic reforms to open India's markets, improve trade volume, and facilitate his growing population's need for continued job growth.” Matt was joined by Ed Royce Chairman of House Foreign Affairs Committee, Ami Bera, Co-Chair Congressional Caucus on India and Indian-Americans, Brad Sherman, Elliot Engel, Derek Kilmer, George Holding, Scott DesJarlais and Dana Rohrabacher. Bera also pointed out India to be one of fastest and the largest growing economy. He said, “An economically prosperous and regionally engaged India benefits the US' strategic goals on Asia." It is being noted by the legislation that the US- India partnership is very important to the strategic interest of the US all over the globe. However, it is also considered an integral facet for the adjustment of the administration. The legislation directs the state secretary to ask the APEC member states to submit a report to the Congress and support the status of membership within two months of this transit of this legislation. Asia Pacific Economic Cooperation (APEC), is an assembly of 21 economies set up with a view to facilitate free trade throughout the Asia- Pacific region. APEC is headquartered in Singapore. The members of this assembly are Brunei, Darussalam, Australia, Chile, Canada, Hong Kong, China, Japan, Indonesia, Malaysia, South Korea, New Zealand, Mexico, Papua New Guinea, Peru, Russia, Singapore, Philippines, Taiwan, US, Thailand, and Vietnam.

March 25, 2016 | 12:30pm IST

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The Dollar Business Bureau - Mar 25, 2016 06:55 IST

American Lawmakers to help India join APEC

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