India seeks Kuwait's support for GCC free trade agreement

India Friday sought Kuwait's support for early conclusion of a free trade agreement with the six-nation Gulf Cooperation Council (GCC).

At an interactive meeting organised by the industry chambers here, Commerce and Industry Minister Anand Sharma urged visiting Kuwaiti Prime Minister Sheikh Jaber Al-Mubarak Al-Hamad Al-Sabah to play an active role for ensuring an early conclusion of the trade deal.

"We are currently negotiating FTA with GCC. I would urge you (Kuwait) to support for the early conclusion of the FTA," Sharma said.

The interactive meeting was organised jointly by the Federation of Indian Chambers of Commerce and Industry (FICCI), the Confederation of Indian Industry (CII) and the Associated Chambers of Commerce and Industry (Assocham).

India has been negotiating a free trade agreement with six-nation GCC grouping since 2004. The two sides had signed a framework agreement on economic cooperation in August 2004, and have held several round of talks for the free trade agreement.

Other members of the GCC include Saudi Arabia, United Arab Emirates, Qatar, Oman and Bahrain.

Addressing the event, Al-Sabah called for strengthening bilateral economic ties between India and Kuwait.

"The stage is now set for building strong bilateral and business relations. India is a grand country with an open market for investment," he said.

Al-Sabah, who is on an official visit to India accompanied by a high-level delegation, asked Kuwaiti business people to forge partnerships with their Indian counterparts, in order to expand their operations in the region.