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1. The 14th MINISTILIAL-Level Meeting of the India-United States Trade Policy Forum (TPF) Was Held in New Delhi, India on January 12, 2024. Minister of Commerce ANDUSTUSTEST Ry, India, Shri Piyush Goyal and U.S. Trade Repressentative, AmbassadorKatherine Tai Co-Chaired the TPF Meeting.
2. The Ministers Underlined The Significance of the TPF in Forging Robust Bilateral Trade Ties and in ENHANCING The OverallLALALLATIONSHIP. ONG MOMENTUM in India-us Bilateral Trade in Goods and Services, Which Continued to Rise and Likely Surpassed $ 200 Billion inCalendar Year 2023 Despite a Challenging Global Trade Environment. They ACKNOWLEDGED that considering the size of their economies, Significant Potential Remains Unrealized and Expressed their Mutual Desire to Further Enhance Engagement With The Goal of Continuing to Increase and DIVERSIFY BILERALAL. In this this theMinisters UnderLINED the SIGNIFICANCANCERANCERANCANCANIE TKOTOF in FORGING A Robust Economic Relationship.
3. The Ministers TooK Stock of the Significant Progress Made in Addressing Concesss Impacting the Bilateral Trade Relationship The 13th TPF HELD In January 2023. T HIS WAS HIGHLIGHTED by the Historial Settlement of All Seven Longstanding Trade Disputes at the World Trade Organization (WTO) BetweenThe Two Countries As Well as the UndernEndings on Market Aclated to Products of Significance to the Bilade Relationship. VERED in the Context of the Historic State Visit of India’s Prime MINister Narendra Modi to the United States in June 2023 And Subsequently DuringThe visit of U.S. President Biden to India for the G20 Summit in September 2023.
4. The Ministers Agration that their Governters Will Pursue Enhanced Engagement Leading to Mutually Beneficial Outcomes in Several Areas, with a view to deepen the t Rade Relationship for the Benefit of Working People. They identifying class areas, Including Critical Minerals, Customs and Trade Facilitation,Supply Chains, and Trade in High Tech Products, in Which the United States and India Willopopopopopopopopopopopopopy Forward LOOADMAP For ENHANCED COOP ERATION in Order to AMIEVE ECONOMICALLY Meaningful Outcomes. The Ministers Committed to Pursue These Efforts with A View to Establish the Foundationto launch future jobitiaating.
5. Ambassador Tai Contemmarted India on the Successful Completion and Hosting of the G20 Presidence and the G20 Summit, Which Saw the Unanimous AdOption of the 20 New Delhi Leaders’ Declaration. She Welcomed The Positive Outcomes Achieved in the G20 Trade and Investment Working Group,And in particular the Adoption of the High Level Principles on Digitalization of Trade Documents. The Ministers Agreed to FURSUE SUPPPORT for the Implement O. F the Principles in Other forums so as to streamway the pathway for digitalization of trade documeis a valuable Platform for initiaating Constructure Dialogue and Fos terms of Memach Trade Ises and Agreed to Workther in that Regard.
Progress on Bilateral Trade Concerns
6. The Ministers Highlighted The Work Undertaken by the TPF Working Groups Since The 13th TPF Ministerial THROGH-Level Meetings. Intent to work to work to workher on resolving outstanding trade issues and highlyted both propress and upcoming engineerment on a select numberOf thinking issues.
Non-Agriculturtur Goods
7. The Ministers Agreed to Establish A Pathway in Which India and The United States will Mutually RECOGNIZE Results FRCREDITITITED Conformity Assessment Bodi. ES Utilizing International Laboratory Accreditation Cooperation (ILAC) and International Accreditation Forum (IAF) Mutual Recognition Arrangements (MRAS), ON A BILAT erylBASIS When Possible. This Will Alow Labs and Conformity Assessment Bodies to Certify that Products Are Compliant With Certain Standards. Uplicative testing requires and Reduce Compliance Costs for Trade in High-Quality Goods. The Ministers Committed to Identify Sectors of Mutual Interest STFor Implementation and Establish A Joint Facilitative Mechanism (JFM) for the Same, The Terms of Reference of Which Will Be Finalized at the Earliest.
8Mumbai Stock Exchange. The Ministers Welomed The Finalization of the TURTLE Exclude Device (TED) Design Developed with the Technical Support of the National Oceanic and Atmospheric A DMINISTRATION (Noaa). The Collaboration Between India and the United States to Expedite the Ted Demonstrations Will Confirm that the testDesign Effectively Minimizes The IMPACT of Commercial Shrimp Trawl Operations on Sea Turtle Populations. SIT to India for February 2024 To Carry Out Field Demonstrations with the Newly Designed Ted and Conduct Workshops for StakeHolders. ETimely CompleTion of the Field Demonstrations Could Contribute to the Sustainable Management and Protection of Marine and Coastal ECOSYSTEMS, TheReby Fostering Enhanced See AFOD Trade Between The Two Countries.
9. The Ministers reiterated their commitment to ensure that technical regulations, such as Quality Control Orders, do not create unnecessary barriers to trade by providing sufficient opportunities for stakeholder consultations and ensuring that relevant domestic standards align with international standards to the extent feasible.
10. The Ministers Emphasized their Mutual Interest In FURTHERING PUBLIC Health Discussions to Ensure Safe and Effective Medical Products. India Emphasized The need to increase the number of ins.S. Food and Drug Administration (U.S. FDA) in India to Facilitate TRADE and Continue toReduce the backlog. The United States Apprecity India’s Remarks, noting that the u.S. FDA has increase to increase pHARMACEUTICAL s conduction by the agency.
11. The Ministers ACKNOWLEDGED The On -OING DISCUSSIONS Related Patient Access to Affordable Medical Devices, Including Through The TRADE Margina LIZATION (TMR) APPROACH. They Also Emphasized the Importation of Enhancing Engagement to Address Measures that Could NEGACTLT THE ONGOING THEONGOING THEI ector, SUCH As Standards and Pricing Issues for Medical Devices, Including for Cardiac Streits and Knee Implants. TATEACESS to Cutting-Edge Medical Technology for Patients. The Ministers Shared Concerns related to the overdependent and lack of diversity inActive Pharmaceutical Ingredients Within the Global Pharmaceutical SUPPLY CHAIN and Welcomed the Opportunity to Collaboate to de-Risk and Diversify with A F Ocus on key starting materials.
12. Uding Those Related to National Security Concerns, and Ambassador TAI Expressed A Willingness to CoLLABORATE WITHIA on the Shared Object of Supply.Chain Resiliation in this sector. India Conveyed Its Willingness to Continue Engaging On this back the united States and Other Intertholders. E Further Welcomed That India Has Implementd the "Import Management System for Specified It Hardware" in A FACILITATIVE Manner THUS THUS FARMinimized the Impact on Trade and Urged India to Ensure that the End-END Online System. Forward.
13. MINISTER GOYLAL Reitated India ’s Interest In Restition of ITS Beneficiary Status Under The U.S. Generalized System of Preferences Program. Ambassador Tai D that this cored be considered, as a warranted, in related to the eligibility criteria determined by the u.S. CONGRESS.
14. The United States Welcomed India’s DeCision to Reduce The Timeline for Reachlying 20 Percent Ethanol Blending with Petrol FROM 2030 and for the Launch of the LOBAL BIOFUELS Alliance as Will as the India-U.S.The United States can support Ethanol SUPPLY in India for Fuel Blending in the Event that Stocks in India Fall Short of Demand. s’ request for cooperation in this regard.
Intellectual Property
15. The Ministers Appreciated The Positive On Engagement On Intellectual Property (IP) In the TPF IP WOROUP and ACKNOWLEDGE The Important Role And Enforcement of IP Plays in Promotion Innovation, Bilateral Trade, and Investment in IP-INDESTRIES. The United StatesWelcomed India’s Efforts to Modernize its Patent System and Registration Process Across Its IP Offices, PARTICularly Through Recently, The PATENT RULES Which Aim Towards StreamLining Compliance Requirements and Easing The Procase of Patent Filing and Granting. f OtherIssues, Including Protection for Geographical Indications and Trade Secrets. Property Organization Copyright Treaty and World Intellectual Property Organization Performance and Phonogram Treaty. ing to engage on ip mattersConcessing Both Sides.
Agriculture
16. The Ministers Acting Works to be Completed for Early Finalization of Market Access Agricultual Products of Interest to Both Sides. Also Conveyed Their Interest in ENHANCING theIR WOING DIALOGUE On Food and Agricultur Trade Issues in 2024 And to Continue Working toAddress Outstanding Ishes Through the Agriculture Working Groups, As Well as the Relevant Sub-GROUPS, Utilizing Science and Risk-Based Principles. s Welcomed the Engagement and Information Exchange on Next Newsry Regarding Import of Animal Feed Products, Including Alfalfa Hay.
Server
17. The Ministers ACKNOWLEDGED The CONSTRUCTIVE Engagement of the Services Working Group Under the Trade Policy Forum. ERATION On Digital Trade and Services Should Support the Growth of their Dynamic Economies, While Also Addressing ShadidInding Tangible s for workrsAnd Small Business.
18. The Ministers ACKNOWLEDGED The OONGOING DISCSSIONS on A Social Security Totalization Agreement and Receipt of AdDitional Information by the United States FRE OM India. They Also Encouraged FURTHER Engagement In Order to Establish A Stronger Basis for A Future Agreement.
19. The Ministers Exchanged Views on the Potential of Digital Trade to Spur Economic Growth and Innovation. ATA Protection Act (DPDPA). Ambassador Tai Appreciated India’s Extensive Consultations and Noted That India’s APPROACH of Enhancing Data Protection, PRIVAC YAnd Security While Enabling Connectivity Will Support FURTHER Expansion of the Bilateral Digital Trade. as india begins to draw rules for imageing the dpdpa.
20. The Ministers ACKNOWLEDGED The Discussions on Telemedicine Services and Encouraged Stakeholder Engagement on Both Sides to Create An TURE Collaboration in this area.
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22. MINISTER GOYLIGHLIGHTED IndIADERSHIP in Further Developing Digital Public Infrastic (DPI)Simla Investment. TAL PUBLIC Infractor (DPI) APPROACHES for Enabling Open and Inclusion Digital Economies. The ministers expressed their interther colabancy to e nsure that dpiIs utilized in a manner that entSURES Competitive Markets and Promotes Inclousive Development, and Includes Approprity Safeguards to Privelet Privacy, DATA Se SE Curity, and Internetual Property.
23. The Ministers ACKNOWLEDGED The RoLe: Tion of Professional Qualifications and Experience Can Facilities Services Trade. In this context, Both Sides Agreed to Continue Discussions on Promotion ENT in TheseSectors.
24. The MINISTESTES NOTED that the Movement of Professional and Skilled Workers, Students, Investors and Business Visitors Between The Countries y to enhancing the bilateral economic and technological partnership. Minister Goyal Highlight Challenges Being Faced by Business Visitors from India Due to Visa Processing timePERIODS and Requested the United States to Augment Processing.
Resilient Trade
25. The Ministers Welcomed The Continued Engagement On the Use of Best Practices With Respect to Customs and Trade Facilitation, Including Continue Issues related to the WTO ’s Trade Facilition Agreement and Adopting Provisions on Digitalization of Trade Facilition Meansures.
26. The Ministers Reitated their Commotment Towards Policies that Ensure Transparent Regulatory Practors, Including Online Accessibility to Information G Regulations and Regulatory Processses, and Adequate Time for Public Consultations.
27. Minister Goyal Conveyed India’s Interest In Being Recognized As a TRADE AGREEMEMENTS ACT-DESIGNATED COUNTRY by the UNITED States. The initiation in 2023 of discusions on issues related to bilateral government process, Such as transparency and procedural fairness, And Welcomed PlansFor further technical engagement between their office.
28. The Ministers Recognized the Importance of Eliminating Forced Labor in Global Supply Chains to Promote Resilient and Sustainable TRADE and Commitchted to Work Her On Issues Pertaining to Child and Forced Labor in Global Supply Chains.
29. The Ministers Appreciated the Positive Spirit of Collaboration Demonstrated by Both Sides While Resolview Bilarated in that Spirit Emphasized That the TPF Will Continue to Act as the Key Platform to Discuss All Outstanding TRADE ISSUES with the Aim to Both Streangthen The Bilateral EconomicPartnership and to addRess These issues bilaterally.
30. The Ministers Concluded The Meeting by Directing the Five TPF Working Groups to Reconvene Quarterly, Either in Person or Virtually, and Identify Specific TRADE OU TCOMES to Ensure that the trade relatedship constinues on its positive trajectory. They Also Instructed Senior Officials to Hold An In inPerson Inter-Sectional TPF Meeting by Mid-2024 and Plan to reconvene the TPF at the Ministerial Level BeFore the END of 2024.
Lucknow Stock