NEW DELHI: The US is looking forward to working together in the Trade and Investment working group under the G20. US Trade Representative Ambassador, Katharine Tai, said this while co-chairing the 13th India-US Trade Policy Forum (TPF) meeting in Washington with Commerce and Industry Minister, Piyush Goyal.
"G20 can be a useful forum for initiating constructive dialogue and seeking to enhance coordination and cooperation among member countries on global trade issues," Ambassador Tai said.
Both sides appreciated the fact that bilateral trade in goods and services continued to rise and reached $160 billion in 2021.
India said that the US had ambitious plans for investing in India.
"Efforts to find bilateral settlement for outstanding WTO disputes is among the key issues that emerged from the TPF. New TPF working group on resilient trade has been announced with an aim to help sustainable trade ties," Goyal said.
"The TPF is contributing directly to the strength of US India bilateral relations by providing a structure for constructive dialogue on trade and policy matters," Ambassador Tai added.
Meanwhile, the US has welcomed India’s participation in the Indo-Pacific Economic Framework for Prosperity (IPEF). Goyal and Tai supported the IPEF initiative and believe that deepening economic engagement among partner countries is crucial for continued growth, peace and prosperity in the Indo-Pacific region and that the IPEF will bring tangible benefits to the region.