Page 47 - IACC Newsletter March-April 2014 Issue 03

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States Trade Policy Forum(TPF). The two governments signaled their readiness to enhance bilateral trade and investment
ties in a manner that promotes economic growth and job creation in both India and the United S tates.
Work Sessions
Minister Sitharaman and Ambassador Froman discussed and exchanged views on a range of trade and investment issues,
in particular, (i) Agriculture, (ii) Services, (iii) Promoting Investment in Manufacturing, and (iv) Intellectual Property. The
co-chairs of the respectiveWork Sessions briefedMinister Sitharaman and Ambassador Froman on the outcomes of their
discussions and presented agreed upon work plans for continued engagement in these areas in 2015. Both countries
noted the importance attached to the Trade Policy Forum by Prime Minister Modi and President Obama to further
stimulate bilateral trade and investment.
Both countries recognized the important role of agricultural and food trade in feeding their populations, providing
consumer choice and supporting the livelihood of their farmers. India and the United States agreed to establish a new
technical dialogue that will promote cooperation on plant health, animal health, and food safety issues in a manner that
facilitates the movement of agricultural goods between the two countries. They agreed to work towards facilitating
agricultural trade between the two countries by engagingwith each other closely with the intent of establishing science -
and risk-based regulations and procedures that conform to international standards and guidelines set by CODEX
Alimentarius, theWorldOrganization for Animal Health (OIE) and the International Plant Protection Convention (IPPC), to
the extent possible. Minister Sitharaman and Ambassador Froman also acknowledged the benefits that could accrue to
Indian and U.S. farmers and agri -businesses from these engagements.
Both countries noted each other’s' requests and agreed to follow up on exploring the possibility of enhanced market
access on identified agricultural products. They also noted the potential reconciliation of the definition of wholesale pack
between Departments, forthcoming rules to allow stickering of maximum retail price at the port, and timely
implementation efforts concerning these issues.
Services and Investment
Minister Sitharaman and Ambassador Froman highlighted the important role of the services sector in India and the United
States, and the significant potential for increasing bilateral services trade and investment. To advance this goal, India and
the United States agreed to increase engagement on services and investment issues. The United States took note of India's
interest in engaging on social security totalization, and agreed to review any information provided by India about
developments in its social security regime. They decided to continue their engagement on visa issues, and the United
States took note of India's interest in ensuring easier access for Indian professionals in the United States.
Minister Sitharaman highlighted India's efforts to promote foreign participation in key services se ctors, including those of
interest to the United States, and urgedU.S. investors to take advantage of these opportunities. Minister Sitharaman and
Ambassador Froman recognized the benefits that can accrue from services liberalization in the information an d
communications technology sector.
Promoting Investment in Manufacturing
Minister Sitharaman and Ambassador Froman discussed efforts that each country is undertaking to promote a business
friendly environment for attracting investment in manufacturing, moving forward on a commitment made by Prime
Minister Modi and President Obama in September 2014 to address this issue that is critical to each other’s' economy.
Affirming their shared goal of using trade and investment as a vehicle for stimulating economic growth and job creation,
Minister Sitharaman and Ambassador Froman agreed to deepen bilateral engagement aimed at promoting bilateral
investment across sectors. Both countries stressed the importance of providing a transparent and predictable policy
environment to help attract investments in manufacturing. In this regard, Minister Sitharaman and Ambassador Froman
agreed to exchange information on stakeholder participation in the framing of trade and investment policies and
procedures, and to discuss best practices. Further, they highlighted their efforts to increase supply chain connectivity and