India-US Trade Policy Forum: Union Minister of Commerce and Industry Piyush Goyal said that India and the United States are seeking bilateral resolutions to a number of long-standing World Trade Organization (WTO) disputes between the two nations.
The minister's remarks came on Wednesday after the conclusion of the 13th India-US Trade Policy Forum (TPF) with his US Trade Representative (USTR) Ambassador Katherine Tai in Washington.
Addressing a press conference in Washington, Goyal said that there was a very substantial discussion amongst the officials to find out solutions to the several WTO disputes between India and the US. "These outstanding issues are areas where both countries have had some wins and some losses," he added.
During his two-day US visit, the Commerce Minister also held delegation-level talks and one-to-one meetings with USTR Ambassador Tai.
India-US committed to finding bilateral resolutions
Goyal also stated that both nations have instructed their officials to engage in "very aggressive" negotiations over the next two to three months to find bilateral resolutions to the WTO issues, demonstrating the mutual trust between the two nations.
"We have directed our officials to engage very aggressively over the next two or three months to see if we can find a bilateral settlement of the WTO issues demonstrating the trust between the two countries and we hope for some satisfactory outcomes," he added.
According to Goyal, India-US have seen this becoming a very robust and outcome-oriented discussion on several issues of mutual interest since both nations relaunched the Trade Policy Forum in a new form with renewed vigour in November 2021.
Goyal's remarks on Trade Policy Forum
"The Trade Policy Forum truly is one platform where we have free and frank discussions on a plethora of issues. Some predefined on the table and many which emerged from the discussions," he said.
"This kind of friendly atmosphere in which India and the US can discuss issues of mutual interest and at times issues that cause concern on either side of countries --- discuss in an open atmosphere in a very transparent manner and that the beauty of Trade Policy Forum," Goyal added.
India urges US for speedy issuance of business visas
Further, the Union Minister said that India has urged the US to expedite the issuance of business visas so that people can undertake short trips to pursue their commercial and trade interests.
"We found very good resonance to our request that issuance of business visas which is taking a long time back home in India is an area which needs to be expedited, so that business persons interested on both sides, need to have faster processing of business visas so that trade, investment does not suffer," Goyal remarked.
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It should be noted here that India and USA are natural partners and have trade complementarities, long-standing strategic and economic relationships, people to people contact, and both are vibrant democracies too. The two countries are also collaborating under the QUAD, I2U2 (India-Israel/ UAE-USA) and IPEF (Indo-Pacific Economic Framework).
In addition, regular exchanges at the leadership level have been an integral element of the expanding bilateral engagement. The outcomes emerging from these visits have been instrumental in further strengthening the multifaceted ties between the two countries.
(With inputs from ANI)