NEW DELHI, Oct 21: India and the United States have discussed various teething bilateral trade issues, including the issue of visa and movement of professionals, during the visit of US Trade Representative Ambassador Michael Froman.
The two countries decided to continue their engagement on visa issues, and their shared resolve to facilitate the movement of professionals, experts and scientific personnel in the respective countries. They also discussed the issue of totalisation and decided to continue their engagement for a bilateral totalisation agreement.
Both the countries discussed issues related to National Intellectual Property Policy, liberalised foreign direct investment (FDI) in agriculture, trade in services and trade in goods, promoting investment in manufacturing, and intellectual property and trade in services and trade in goods.
The leaders from both sides noted efforts that each country was undertaking to promote the ease of doing business in order to create an environment conducive to entrepreneurs and attract investment in manufacturing.
The stress has also been given upon the importance of providing a transparent and predictable policy environment and simplified compliance to help attract investments in manufacturing.
It has also been emphasised that the timely resolution of disputes through a strong judicial system fosters an attractive investment climate and improves the ease of doing business.
The United States welcomed India’s establishment of commercial courts, streamlining of its arbitration procedures, and its ongoing efforts for timely resolution of commercial disputes.
During this time period, the Ministers acknowledged that India issued a National Intellectual Property Policy, liberalised foreign direct investment (FDI) in various sectors, and reduced customs processing time, and that the United States ratified the Defend Trade Secrets Act, and advanced implementation of its single window.
Further, both the countries agreed to continue working to facilitate bilateral trade in food and agricultural products and committed to holding technical dialogues on animal health, plant health, and food issues during 2017. (UNI)
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