Commerce Minister Piyush Goyal & US Trade Representative (USTR) Katherine Tai co-chaired a meeting of the Trade Policy forums (TPF) khổng lồ discuss key issues in trade between the two nations, marking the first TPF between the two since 2017.
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Commerce Minister Piyush Goyal and USTR Katherine Tai at the 12th Trade Policy forums meeting. (Source: via Twitter
India và the United States have committed khổng lồ mutually improving market access for certain agricultural products, & the latter has agreed to look at restoring India’s GSP (Generalized System of Preferences) status, according a joint statement issues by the two countries on Tuesday.
Commerce Minister Piyush Goyal and US Trade Representative (USTR) Katherine Tai co-chaired a meeting of the Trade Policy diễn đàn (TPF) lớn discuss key issues in trade between the two nations, marking the first TPF between the two since 2017. “The ministers welcomed the agreement to finalise work on market access facilitation for mangoes & pomegranates, pomegranate arils from India, và cherries & alfalfa tuyệt for animal feed from the US,” the joint statement said.
A government official said both nations are set khổng lồ draw up timelines to resolve 35-40 trade related issues in 3-12 months.
India’s mango exports to lớn the US came to lớn a halt due to the Covid-19 pandemic as sanitary check requirements, including the arrival of a US phytosanitary inspector lớn monitor sanitization processes, could not be completed. India is also set to facilitate the sale of US cherries and alfalfa tốt for animal feed through a phytosanitary certification process. The US has also agreed to lớn work to lớn complete India’s request for table grapes exports while New Delhi agreed lớn work to lớn facilitate the imports of American pork và pork products.
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“On GSP, they have agreed to look at restoring GSP,” said the official, noting that such a proposal would have khổng lồ be approved by the Congress. India exported $6.3 billion of goods to the US under the GSP program in 2018. The joint statement said that India’s request for restoration of GSP status “could be considered, as warranted in relation khổng lồ the eligibility criteria determined by the US Congress.”
Goyal recently indicted India’s interest in starting negotiations for a miễn phí trade agreement (FTA) with the US and called for the two to “engage in a much bigger way”.