New Delhi, May 27 (SocialNews.XYZ) The US team for trade talks, led by the Chief Negotiator, will be visiting India next month from June 1-4 to finalise the details of the interim agreement and take forward the negotiations under the broader bilateral trade agreement on multiple areas such as market access, non-tariff measures, customs and trade facilitation, investment promotion and economic security alignment, the Ministry of Commerce and Industry said on Wednesday.
India and the United States issued a joint statement on February 7, agreeing on a framework for an interim agreement regarding reciprocal and mutually beneficial trade. The framework reaffirmed the countries’ commitment to the broader India-US Bilateral Trade Agreement negotiations. In pursuance thereof, the Indian team visited Washington D.C. from April 20- 23rd for an in-person round of meetings with their US counterparts, the statement said.
Last week, the US Ambassador in India, Sergio Gor, expressed immense confidence regarding the finalisation of a landmark bilateral trade deal between Washington and New Delhi in the "coming weeks and months".
Speaking at the Annual Leadership Summit of the American Chamber of Commerce (AMCHAM) here, he said: "President (Donald) Trump's goal is to facilitate bilateral trade in a way that creates lucrative opportunities for American businesses and workers. Our current interim trade agreement is on the table to be finalised, unlocking prosperity for both nations."
The envoy further stated that the US was looking forward to completing the details of a new bilateral trade agreement with India that will expand market access, reduce barriers, and create greater certainty for businesses on both sides.
“This agreement, if done right, will strengthen supply chains, catalyse new investments, and drive sustained inclusive growth, bringing tangible benefits to industries, workers, and economies," he said.
Highlighting the growing bilateral economic relations, Gor said Indian companies have committed investments worth more than $20 billion in the United States during the annual Select Investment Summit, reflecting the growing economic partnership between the two countries.
"The US Embassy in India ranked first globally in facilitating investment commitments into the United States," he pointed out.
Gor also highlighted the growing presence of American companies in India’s expanding consumer and industrial sectors.
Source: IANS
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