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USA and India to foster bilateral trade

A high-level delegation headed by Susan C. Schwab will arrive on April 12 to double bilateral trade to US$ 60 billion by 2008.

business Updated: Apr 05, 2007 12:13 IST

US Trade Representative Susan C. Schwab will lead a high-level delegation to India on April 12-15 for strategic trade talks and bilateral discussions.

Schwab will co-chair the fourth ministerial-level meeting of the US-India Trade Policy Forum with India's Minister of Commerce and Industry Kamal Nath.

The United States and India maintain one of the world's fastest growing major bilateral trade relationships and are committed to a goal of doubling bilateral trade to approximately US$ 60 billion by 2008.

"Since President Bush's historic trip to India last March, we have made important progress in our bilateral relationship," said Schwab.

"The US-India Trade Policy Forum is a critical instrument to foster bilateral trade and investment opportunities."

At the Trade Policy Forum, Schwab will discuss initiatives to strengthen bilateral trade ties and achieve progress in the areas of agricultural trade, investment, trade in services, reduction of tariff and non-tariff barriers, and boosting innovation and creativity.

The US-India Trade Policy Forum was launched during the visit of Indian Prime Minister Manmohan Singh to Washington DC on July 2005. The previous Ministerial-level Trade Policy Forum meeting was held in June 2006 in Washington, DC.

While in India, Schwab will hold in-depth discussions in New Delhi with senior Indian officials on the World Trade Organization Doha Development Agenda. She will also attend brief gatherings of the G-4 and G-6 trade ministers to do a stocktaking of progress in the Doha Round.

This will be Schwab's first trip to India since her confirmation by the US Senate in June 2006. Schwab's delegation will include Deputy US Trade Representatives Karan Bhatia and Peter Allgeier, Chief Agricultural Negotiator Richard Crowder and Assistant US Trade Representative for South and Southwest Asia Douglas A. Hartwick.