GNDU Professor Sethi makes presentation in International Meet

Amritsar, December 24, 2014: Dr.Amarjit Singh Sethi, a Senior Professor in the Punjab School of Economics, Guru Nanak Dev University presented his paper on “Trade among BRICS Nations: An Examination of Growth, Structural Changes and Potential”, in the International Conference on “Empirical Issues in International Trade & Finance”, held recently at the Indian Institute of Foreign Trade, New Delhi.  The Conference was inaugurated by Nirmala Sitharaman, Minister of State for Commerce and Industry, Government of India.

The Conferences was attended by nearly 150 dignitaries from across the globe, which included Prof Graciela Chichilinsky from Columbia University, USA; Prof Jane Kelsey from University of Auckland, New Zealand; Prof Jim Rollo from the University of Sussex, UK; Prof Alan Deardorff from the University of Michigan, USA; Prof Shujiro Urata from Waseda University, Japan; Dr. William Gain from the World Bank; Dr Mia Mikic, Chief of Trade, Policy and Analysis at UNESCAP,  Bangkok;  Dr Frederic Gonzales from the OECD; and Dr Jayant Menon from Asian Development Bank, Phillipines.

In his paper, Prof Sethi highlighted that the trading group of BRICS nations (constituted by Brazil, Russia, India, China and South Africa) accounted for about 45% of world population, 20% of world trade,  and 40% of global economic growth, and can thus be the growth driver of the world economy. Its participation in global economy can play a crucial role in the development of the world as well as for itself. As per his analysis, trading with Russia has been  at a relatively sluggish rate, thereby calling for the need to adopt promotional steps, particularly in respect of the exporting of items like Commodities and Transactions, and importing  of items like Animal & Vegetable Oils, Fats & Waxes.  Through gravity modelling, Prof Sethi observed that the intra-BRICS trade is likely to improve perceptibly with liberalization of trade barriers among the member countries. Growth-promoting policies coupled with ernest steps to improve Indo-China relations would expectedly give an impetus to trading among the BRICS nations. Going a step further (outside the BRICS block), strengthening of ties with the neighbouring Pakistan could also give a boost to India’s  volume of trade, emphasised Prof Sethi.

(SK Vyas/Jalandhar)

-----------------------------

Readers may send their news/views/feedback to us:

[email protected]

-----------------------------

Join us on facebook (fb): www.facebook.com/cityairnews