Legislation in US Senate for India's APEC membership

Two top American lawmakers have introduced a legislation in the Senate which directs the secretary of state to develop a strategy for India becoming a member of Asia Pacific Economic Corporation (APEC) forum for 21 Pacific Rim member-economies that promotes free trade throughout the Asia-Pacific region.
Given the strong role India plays in the economy in the Asia-Pacific region, Senators Mark Warner from Virginia and John Cornyn from Texas this week introduced legislation to direct the secretary of state to develop a strategy to obtain membership status for India in the APEC a media release said.
Warner and Cornyn are also co-chairs of the Senate Indian Caucus, the only country specific caucus in the Senate.

The two lawmakers have also introduced the Advancing US-India Defence Cooperation Act, which requires the president to take steps to codify India's status as a major defence partner of the US and provide them special privileges in defence trade under the Arms Export Control Act.
These bills are companion measures to ones recently introduced by Congressmen Matt Salmon and George Holding.
The US government also welcomed India's interest in joining APEC.

"We welcome India's interest in joining APEC. I said this directly to my Indian counterparts talking to them about how they see membership in APEC fitting into their own thinking, about their economy about trade and the evolution that they would make," Deputy Secretary of State Antony Blinken told lawmakers during a Congressional hearing on Asia.

"So I suspect we will have those conversations going forward," Blinken said without indicating when and in what format these talks would be held.
"I very much agree with the larger proposition that you cite about the importance of India and in particular the importance of trying to deepen and expand our own trade relationship with India and its own relations in the area," Blinken said.
"We want to make sure that as countries join organisations like APEC they are going to work to productively, cooperatively, to uphold its rules and standards and, be productive partners in that enterprise," Blinken said.

"So that's one of the things that we'll be talking to the Indians about. But the bottom line is we welcome their interest and we'll be talking to them about it," he said.
Earlier this month, Finance Minister Arun Jaitley said in New York that India wants to join APEC.
The Indian government, he said, is ready to negotiate "with an open mind" and "a great sense of confidence" about its place in the global economy.
"You can't claim to be one of the fastest growing economies in the world and not think of trade as a win-win option," Jaitley said.

He added that rather than pursue "big bang reforms", incremental and small policy changes pursued by the government would result in bold reform and accrue significant dividends for the economy.