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India and US review trade in depth

New Delhi, Jan 13 (Prensa Latina) India and the United States reviewed specific issues of trade at a meeting here between Minister Piyush Goyal and Trade Representative Katherine Tai, a government source informed on Saturday.

Both officials expressed their countries’ commitment to seek the foundations to launch future joint initiatives in several fields, during the 14th ministerial-level meeting of the Trade Policy Forum (TPF) held on Friday, the Ministry of Commerce and Industry noted.

The goal-centered sectors are those related to critical minerals, trade facilitation and supply chains for high-tech products.

In that regard, authorities underscored that the United States and India will develop an ambitious and forward-looking roadmap for further cooperation to achieve economically significant results.

The Indian and US representatives further agreed on establishing the Joint Facilitation Mechanism (JFM) to defuse non-tariff barriers and mutual recognition arrangements (MRAs) to eliminate requirements such as duplicative testing and reduce costs in the trade of high-quality products.

Tai and Goyal highlighted the effective implementation of the TPF as a key player in strengthening resilient bilateral trade and upgrading the overall economic partnership between the nations.

They reviewed other issues, such as a future social security agreement, India’s request to enhance the exchange of services between countries and help India’s Information Technology professionals who work in the United States.

They also analyzed the lifting of the ban on Indian exports of wild-caught shrimp that affects its fishermen and exports to the US market.