Ruling out any compromise on the question of agriculture subsidy at the World Trade Organisation talks, India has agreed with the European Union to work for better bilateral trade ties.
"We want to work more closely with the EU, our biggest trading partner, both to boost investment and to enlarge the volume and range of trade," Commerce Minister Kamal Nath told reporters in London on Wednesday after his talks with the EU Trade Commissioner Peter Mandelson.
At the same time, he made it clear that in the WTO talks India would not move merely to meet the deadlines.
"India cannot compromise and move forward in the WTO talks merely to meet the deadlines though we understand deadlines are important," he said, adding "there cannot be a compromise on agriculture subsidy."
At the end of their talks covering bilateral and WTO issues, Nath and Mandelson issued a joint statement in which they said they would agree on a basis for bilateral negotiations aimed at closer economic cooperation by October, when an EU-India summit takes place.
"Following our meeting today, our officials will discuss how to ensure that by the time we get to the EU-India Summit in October 2006 we have a clear road map of how our bilateral trade and investment agenda can be strengthened and we have an agreed basis on which to start bilateral negotiations towards closer economic co-operation," the joint statement said.
