A group of influential American lawmakers have introduced a legislation asking the Obama administration to help India join the Asia Pacific Economic Cooperation (APEC).
Chairman of the House Sub committee on Asia and the Pacific, Matt Salmon yesterday said that membership of the APEC would provide India a constructive forum to glean insight from other Asian countries that have already taken significant steps to advance their economies. Mr Salmon, who introduced the legislation in the US Congress, said 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.
The legislation notes that the US-India partnership is vital to the US strategic interests in the Asia-Pacific region and across the globe.
Singapore-headquartered APEC is a forum for 21 economies to promote free trade throughout the Asia-Pacific region. Important members of the APEC are Australia, Brunei Darussalam, Canada, China, Japan, South Korea, Russia, Singapore, and the United States.