US trade envoy, Piyush Goyal agree to revitalize Trade Policy Forum to deepen ties

Welcoming the re-launch of the US-India Trade Policy Forum (TPF) after four years, the United States Trade Representative Katherine Tai and Union Minister of Commerce and Industry Piyush Goyal on Monday agreed to revitalize the forum to deepening the bilateral trade relationship by establishing regular contact aimed at resolving trade obstacles.

"Ambassador Tai and Minister Goyal previewed the US-India Trade Policy Forum (TPF) meeting, scheduled for Tuesday, November 23. They welcomed the re-launch of the TPF after four years, and agreed that the revitalized TPF will contribute to deepening the bilateral trade relationship by establishing regular contact aimed at resolving trade obstacles," read Tai's statement.

Tai, who is on a two-day visit to India met Union Minister of Commerce and Industry Piyush Goyal and Commerce Secretary BVR Subrahmanyam yesterday along with Deputy United States Trade Representative Sarah Bianchi.

Ambassadors Tai and Bianchi expressed their appreciation to the Government of India, and to Minister Goyal personally, for the warm welcome they have received in India.

"So grateful to Minister @PiyushGoyal for the warm welcome to New Delhi and a splendid dinner meeting with the Indian government and business leaders. Thank you! Looking forward to re-launching the US-India Trade Policy Forum tomorrow," Katherine Tai tweeted.

Tai and Goyal also reviewed a number of issues on the agenda at the upcoming 12th Ministerial Conference of the World Trade Organization and the need to work constructively to reach meaningful outcomes added the statement.

Speaking at a public forum on Monday, US Trade Representative said that India and the US face shared challenges in areas like climate change, vulnerable supply chains, and promoting market-oriented principles and structures.

Tai said "India and the US also face shared challenges in areas like climate change, vulnerable supply chains, and promoting market-oriented principles and structures. These areas are ripe for closer collaboration."

The US trade representative also said that trade relations with India are the top priority for President Joe Biden. "The trade relationship between our two countries is a priority, both for President Biden and for me. That's why it was important for me to come to India and relaunch the Trade Policy Forum (TPF) on my first trip to Asia," she said.

( With inputs from ANI )