India-US economic cooperation strengthens with re-launch of trade policy forum
Apr 12, 2022
Washington [US], April 13 : India and US have strengthened their bilateral trade and economic cooperation with the re-launch of the US-India Trade Policy Forum, said US Trade Representative Katherine Tai on Tuesday after meeting External Affairs Minister S Jaishankar.
"Today I met with India's Minister of External Affairs @DrSJaishankar. With the re-launch of the US-India Trade Policy Forum last fall, we have strengthened our bilateral trade and economic cooperation. I am excited to continue this work with India moving forward," Ambassador Katherine Tai tweeted.
This meeting comes a day after the defence and foreign ministers of the two countries underlined the importance of strengthening the commercial and economic pillar of the India-US partnership to advance economic growth and deliver mutual prosperity for both countries.
The ministers applauded the rebound in bilateral trade between the two countries over the last year, surpassing US 113 billion in goods. They also welcomed the 12th Ministerial-level meeting of the India-US Trade Policy Forum (TPF) and the renewal of Working Group discussions to expand bilateral trade, remove market access barriers, and improve ease of business.
"They looked forward to both sides developing action plans that identify and prioritize the resolution of specific trade concerns to build on the progress made during the last TPF Ministerial meeting," the joint statement said.
Separately in a tweet, Jaishankar informed that he discussed bilateral trade with Tai as well as the present global situation in the backdrop of the Russia-Ukraine conflict. "Good to catch up with USTR @AmbassadorTai. Discussed our bilateral trade and exchanged notes on the global situation," tweeted Jaishankar.
Jaishankar is in the US to attend the 4th India-US Ministerial 2+2 Dialogue in Washington.
During his two-day visit, Jaishankar discussed contemporary challenges and issues in an open and constructive manner.
He concluded a productive and substantive 2+2 Ministerial meeting on April 11.
"Resolved that our strategic partnership would continue to grow and play a greater role in shaping the direction of world affairs," tweeted Jaishankar.
India-US 2+2 Ministerial Dialogue was held between Jaishankar and Defence Minister Rajnath Singh and US Secretary of State Antony Blinken and Secretary of Defence Lloyd Austin held on April 11 in Washington.
Notably, during the India-US 2+2 Ministerial Dialogue, the defence and foreign ministers of the two countries forged new and deeper cooperation across the breadth of the US-India partnership, including defence, science and technology, trade, climate, public health, and people-to-people ties.
