Commerce and Industry Minister Piyush Goyal, during his visit to the United States, held discussions with U.S. Trade Representative (USTR) Katherine Tai on ways to enhance trade and investment between the two countries. Goyal is on a four-day visit to the United States, having arrived in San Francisco on November 13. He also met with South Korean Trade Minister Duk-Gyu Ahn and Singapore’s Minister for Trade and Industry Gan Kim Yong. All three ministers attended the meeting of the Indo-Pacific Economic Framework (IPEF) in the United States.
In a post on social media platform Twitter, Goyal mentioned that his meeting with U.S. Trade Representative Katherine Tai was excellent. Discussions were held on key issues related to the Indo-Pacific Economic Framework, with a focus on addressing concerns and finding solutions for mutual benefit. Goyal emphasized the need for robust engagement and deeper ties in business and investment relations between the two nations.
The statement from the Ministry of Commerce on Tuesday highlighted that during discussions with counterparts from Singapore and South Korea, Minister Goyal recommended expediting the review of Free Trade Agreements (FTAs) to achieve favorable outcomes. He also suggested the swift resolution of key WTO issues to facilitate a conducive environment for trade.
Additionally, Goyal participated in a roundtable meeting with investors, covering sectors such as energy, manufacturing, logistics, and technology. The meeting provided a platform for various entrepreneurs and investors to contribute their perspectives on different sectors.
The World Trade Organization (WTO) is organizing its 13th Ministerial Conference (MC13) in Abu Dhabi next year in February. With 164 member countries, the WTO plays a crucial role in global trade discussions.
The Commerce Ministry’s statement underlined the importance of reviewing existing trade agreements and resolving key issues in international forums to promote open and fair trade practices. The engagement with Singapore and South Korea, along with the dialogue at the Indo-Pacific Economic Framework meeting, reflects India’s commitment to fostering economic partnerships and addressing challenges in the region.
