India, US to sign pact for boosting trade next week

Commerce and Industry Minister Anand Sharma and the US Trade Representative Ron Kirk would sign the India-US Trade Policy Forum Framework for cooperation on trade and investment in Washington on March 17.

During his two-day visit to Washington on March 17-18, Sharma is also scheduled to meet the US Commerce Secretary, Gary Locke, and Agriculture Secretary Tom Vilsack, during which the minister is expected to discuss a wide range of issues aimed at boosting trade and business relationship between the two countries.

The Framework for Cooperation on Trade and Investment, to be inked on March 17, seeks to facilitate trade and investment flows between the two countries, Indian Embassy spokesman Rahul Chhabra said.

The India-US Trade Policy Forum was established after the visit of Prime Minister Manmohan Singh to the US in July 2005.

Kirk and Sharma are the co-chairs of this forum. Five Focus Groups have been discussing various trade policy issues of mutual interest relating to tariff and non-tariff barriers, services, agriculture and investment among others.

The India-US Private Sector Advisory Group comprising prominent trade personalities from India and the US would also meet on March 17. The PSAG was established in September 2007 to provide strategic recommendations and insights to the Trade Policy Forum.