India, US to bolster bilateral trade deals

US and India held the 13th Ministerial-level meeting of the United States-India Trade Policy Forum (TPF) in Washington, which was co-chaired by US Trade Representative Ambassador Katherine Tai and Minister of Commerce and Industry Piyush Goyal.

"Ambassador Tai and Minister Goyal fully support the Indo-Pacific Economic Framework (IPEF) initiative and believe that deepening economic engagement among partner countries is crucial for continued growth, peace, and prosperity in the Indo-Pacific region, adding that the IPEF will bring tangible benefits to the region," read the joint statement on the United States-India Trade Policy Forum.

The ministers underlined the significance of the TPF in forging robust bilateral trade ties and enhancing the bilateral economic relationship to benefit working people in both countries.

The ministers highlighted the work undertaken through the TPF working groups since the 12th TPF Ministerial.

They also welcomed the results achieved at the WTO's Twelfth Ministerial Conference and expressed their shared intention to continue to work constructively at the WTO, including on WTO Ministerial Decisions, to achieve tangible, realistic, and meaningful outcomes.

"Recalling the foundational principles of the WTO, they noted that WTO reform should build trust in the multilateral trading system and enable the WTO to better advance its foundational objectives and respond to the needs of all of our people," read the statement.

(ANI)