Government has urged exporters to enter new markets to boost exports. Inaugurating a seminar on the New Foreign Trade policy in New Delhi today Commerce Minister Anand Sharma said, 27 such markets have already been identified. He said, this is important as the US and EU markets have not yet fully recovered from the global economic melt down. His ministry has taken up the issue of more market access with China particularly in the fields of services , IT, Goods and pharma industries and this will be followed up. The Minister referred to the free trade pacts reached with a number of countries and said this is also a step towards realizing the full potential of export sector. He asserted that the sops provided in the new Foreign Trade Policy will be much more than 1000 crore rupees. These incentives were announced yesterday in the policy for the labour-intensive sectors, like handicrafts, textiles and leather goods . The Minister assured the power loom weaving sector to look into their demands. He said that India will protest trade barriers imposed by any country, including increase in visa fees. He said , Restrictions on visa, hiking of visa fee and any such measure is a trade barrier and not in conformity with the multilateral agreements or WTO. Sharing the concern on transaction cost he expressed the hope that it will come down by 40 percent after the report of the expert panel on the issue is implemented. The Minister said, the recommendations of the report will be implemented by October.