Legislation introduced in US Congress to help India join APEC

INVESapecA group of American lawmakers have introduced a legislation asking the Obama administration to help India join the APEC forum, saying an economically prosperous India benefits the US’ strategic goals in Asia.

Matt Salmon, Chairman of the House Subcommittee on Asia and the Pacific, who introduced the legislation, said membership in APEC (Asia Pacific Economic Cooperation) would provide India a forum to gather insight from other Asian countries that have already taken significant steps to advance their economies. He said Prime Minister Narendra Modi is striving for economic reforms to open India’s markets, improve trade volume, and facilitate his growing population’s need for continued job growth.

Congressman Ami Bera, who joined Salmon said India is one of the world’s largest and fastest growing economies and will benefit the US’ strategic goals on Asia.

The legislation asks Secretary of State John Kerry to develop a strategy to obtain membership status for India in APEC, including participation in related meetings, activities and mechanisms.

APEC that is headquartered in Singapore is a forum for 21 economies to promote free trade throughout the Asia-Pacific region.