Local view for "http://purl.org/linkedpolitics/eu/plenary/2006-09-27-Speech-3-258"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2006-09-27"^^xsd:date2
dcterms:Is Part Of	lp_eu:The EU's economic and trade relations with India (debate)2
dcterms:Language	"lt"^^xsd:language2
lpv:document identification number	"en.20060927.21.3-258"2
lpv:hasSubsequent	lp_eu:2006-09-27-Speech-3-2592
lpv:speaker	lp:Margarita Starkevičiūtė2
lpv:spokenAs	unknown; Liberalų ir centro sąjunga (2004-07-20--2009-07-13)3 substitute; BUDG (2004-07-22--2007-01-14)3 member; ECON (2004-07-21--2007-01-14)3 member; ALDE (2004-07-20--2009-07-13)3 member; Delegation for relations with Japan (2004-09-15--2007-03-13)3 substitute; Delegation for relations with Iran (2004-09-15--2007-03-13)3 member; CONT (2004-07-21--2007-01-14)3
lpv:translated text	"I would like to thank the rapporteur for clearly emphasising the importance of the financial sector to the development of the Indian economy. This is a factor which is crucial for Indian and European Union economic cooperation. The volume of investment is quite dependant on the confidence of investors in the target countries and applied standards of regulation of financial markets and accounting. Thus it would be a good idea to invite the Indian business community to take its cue from the accumulated expertise of the European Union in ensuring proper investor protection. I would like to ask the Commission to further promote the experience we have acquired and the European Union financial regulation model that we have been developing and applying so that the Indian business community can take advantage of our expertise in the field. To that end, the work of the Commission must be further coordinated so that Commissioners working in different fields can communicate on a larger scale and so that cooperation with third countries would not only be a task for those engaged in the field but also for all other Commissioners. One of the major challenges is that the Indian financial sector is not sufficiently liberalised. It requires huge investments, especially for expanding business activities to rural areas. Without development of rural areas, Indian progress is simply unfeasible. But the development of the Indian financial sector will not be possible without input from the major world and European banks. Therefore, we should promote cooperation and invite the Indian regulators to take part in joint European Union and third country expert groups in drafting relevant legislation to ensure that appropriate conditions for common work are provided for in the early stages. I would also like to support bilateral dialogue, full-fledged economic cooperation between the European Union and India, and reaching common agreements, particularly since multilateral negotiations do not always properly take relation-specific requirements into account."@en1

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