India, U.S. to hold trade policy forum meet soon

The trade dialogue has five focus groups: Agriculture, Investment, Innovation and Creativity (intellectual property rights), Services, and Tariff and Non-Tariff Barriers

September 09, 2022 12:38 pm | Updated 01:44 pm IST - Los Angeles:

Union Minister for Commerce and Industry Piyush Goyal in a group photo with Trade and Investment Ministers of 14 countries part of the Indo-Pacific Economic Framework (IPEF) after the first day of the meeting, in Los Angeles, on September 9,

Union Minister for Commerce and Industry Piyush Goyal in a group photo with Trade and Investment Ministers of 14 countries part of the Indo-Pacific Economic Framework (IPEF) after the first day of the meeting, in Los Angeles, on September 9, | Photo Credit: PTI

India and the U.S. will “very soon” hold the next ministerial-level meeting of the Trade Policy Forum (TPF) in America to discuss ways for promoting trade and investment between the countries.

India and the U.S. held the 12th TPF in New Delhi on November 23 last year.

The forum is an inter-agency collaboration led by the U.S. Trade Representative (USTR).

It is the principal trade dialogue between the two countries. It has five focus groups: Agriculture, Investment, Innovation and Creativity (intellectual property rights), Services, and Tariff and Non-Tariff Barriers.

“We will be having the next trade policy forum very soon in the U.S. and in the TPF we are hoping to add further deliverables and newer areas of engagement being discussed, for which both teams have been tasked to start engaging with each other,” Union Commerce Minister Piyush Goyal told reporters in Los Angeles.

The minister held a bilateral meeting here with USTR Katherine Tai and US Commerce Secretary Gina Raimondo.

When asked about restoring the trade benefits under GSP (Generalized System of Preferences) programme of the U.S., the minister said: ”I don’t think that’s an issue anymore. None of our exports have been affected by the GSP. So I think that’s not an issue; that we have even discussed in recent times, including today”.

Talking about other meetings, the minister said he discussed ways to increase trade and economic relations with his counterparts from Vietnam and Japan.

“Areas of mutual interest were discussed, particularly with the view to expanding our exports to both these countries,” Mr. Goyal said adding there is a huge potential, particularly with Japan to further expand bilateral trade.

Top News Today

Comments

Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

We have migrated to a new commenting platform. If you are already a registered user of The Hindu and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.