India Stresses For Free Movement Of Labor Across Borders

New Delhi, July 28, IRNA – India has stressed on the issue of free movement of labor across the borders. 'If we are viewing the trade paradigm from a perspective of generating sustainable employment, it is imperative to address the issue of free movement of labor across borders,' said Union Minister of Commerce, Industry and Textiles Anand Sharma today addressing the Global Investment Conference in London, said an official release issued here. He also wondered as to why 'in today's globalized world, where capital and technology move with unprecedented speed, in unprecedented volumes across national boundaries,' labor cannot move. Sharma said that trade during the 21st century is vastly different from that during the last century. It is because, Sharma added, the 21st century trade is 'based on a strong trade and investment linkage which is anchored in international investment in production facilities and trade in intermediate goods.' He further said that today, intermediate goods account for more than half of developed country imports and nearly three quarters of imports of large developing economies. Indian minister added that it is no longer an option for countries to stand back in isolation and erect barriers around their national boundaries. 'Today, intra-NAFTA trade constitutes 51 percent of its total trade, intra-EU trade is 65 percent and intra-ASEAN trade is a quarter of the total ASEAN trade,' Shri Sharma said to underscore that regional trade agreements are now the building blocks of the emerging global economic architecture./end