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Germany
to support India’s stand against US protectionism
Saturday, October 02, 2010 07:10:01 PM,
IANS
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New Delhi:
Germany will support India’s stand against protectionist policies,
adopted by the United States in the last few months, at the major
international forums, including the upcoming G20 Seoul Summit, its
envoy has said.
“Protectionism is a poison. It is not good for any country. We
share India’s concern and will fully support its stand at G20 and
any other forum,” German Ambassador to India Thomas Matussek told
IANS.
He said Germany was “very skeptical” about the recent developments
in the US, which was aimed at creating trade barriers.
“In the medium or long term it is not in the interest of the
United States. It is an absolute poison and will harm the US
economy. We are against any such move,” said Matussek adding that
the recent developments in the US were populist policies aimed at
appeasing a section of voters.
In the last few months, the US has adopted a number of policies to
discourage outsourcing of works by American companies. It includes
hike in visa fee, that is estimated to put an additional burden of
$250 million annually on Indian IT firms. The US increased the
visa fee by $2,000 for certain H-1B and $2,250 for L-1A and L-1B.
Another protectionist approach was by the US state of Ohio, which
recently banned offshore outsourcing by government departments.
India has termed such moves as “restrictive and protectionist”,
saying they would negatively affect the business of Indian
outsourcing firms and might derail the global economic recovery.
Finance Minister Pranab Mukherjee said recently India would raise
the issue at the upcoming G20 summit, scheduled to be held on Nov
11 and 12 in the South Korean capital.
Matussek, who earlier headed Germany’s permanent mission to the
United Nations in New York, said India and Germany would work
together to bring structural reforms in the international economic
and political system.
“Emerging economies like India have to be given greater say in
world economic and political affairs. How can you talk about South
Asia without India? It is ridiculous. This is why, I believe,
India should be a permanent member of the United Nations Security
Council,” Matussek said.
He said a major reform in global financial system was likely at
the G20 Seoul Summit.
Restructuring the 66-year-old International Monetary Fund (IMF)
with a greater say for countries like India and a greater fiscal
coordination to ensure sustainable economic recovery, will be top
agenda of the fifth meeting of the group of 20 developed and
emerging economies in Seoul, Changyong Rhee, secretary general of
the Presidential Committee for the G20 summit told IANS recently.
(Gyanendra
Kumar Keshri can be contacted
at gyanendra.k@ians.in
and biz@ians.in)
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