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USTR Tai, Commerce Minister Goyal to take ‘comprehensive look’ at bilateral trade ties

Published: November 8, 2021
Author: Manali bhanushali

US Trade Representative Katherine Tai and Union Commerce and Industry Minister Piyush Goyal have agreed to take a “comprehensive look” at ways to expand the bilateral trade ties and also shared perspectives on how to reach “meaningful outcomes” at the upcoming WTO Ministerial Conference.

The virtual meeting between Tai and Goyal took place on Wednesday, ahead of Tai’s two-day visit to India from November 22.

“Ambassador Tai and Minister Goyal looked forward to their upcoming meetings in New Delhi (November 22-23), and agreed to take a comprehensive look at ways to expand the bilateral trade relationship and ensure the future success of the U.S.-India Trade Policy Forum,” according to a statement from the Office of the USTR after the meeting.

“They also shared perspectives on how to reach meaningful outcomes at the upcoming WTO Ministerial Conference (MC12),” the statement added.

The World Trade Organisation ministerial conference will be held from November 30 to December 3 in Geneva, Switzerland.

Last month, the Office of the United States Trade Representative announced that Tai and Deputy United States Trade Representative Sarah Bianchi will travel to Tokyo, Seoul, and New Delhi to meet with government officials and stakeholders to discuss the enduring U.S. commitment to the Indo-Pacific region and to strengthen trade and economic relationships with key allies and partners.

During Prime Minister Narendra Modi’s first in-person meeting with US President Joe Biden in September, the two leaders said they looked forward to reconvening the India-U.S. Trade Policy Forum before the end of 2021, to enhance the bilateral trade relationship by addressing trade concerns, identifying specific areas for increased engagement and developing an ambitious, shared vision for the future of the trade relationship.

They noted that ongoing negotiations on an Investment Incentive Agreement that facilitates investment in development projects and committed to an early conclusion. They further discussed how the US and India will work together to set sustainable and transparent rules of the road that will lift economies throughout the Indo-Pacific, according to a joint statement issued after the September 24 meeting at the White House.

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