India and US aim to expand agricultural trade, address market access issues

They said in a joint statement that the two countries have agreed to accelerate trade in agricultural commodities, including shipments of Indian mango and pomegranate to US markets, and cherry and alfalfa hay for animal feed from the United States to India.

Presiding over a joint forum meeting called after a gap of four years, Tai and Indian Commerce Minister Piyush Goyal directed their officials to intensify efforts to resolve the issues and consider a ministerial meeting next year.

“The Forum marks the beginning of a new beginning in the India-US business partnership,” Goyal said in a tweet after the meeting.

New Delhi and Washington have disputed a range of issues, including tariffs, for more than a year, which has hampered prospects for the conclusion of a bilateral trade package.

Tuesday’s meeting follows Indian Prime Minister Narendra Modi meeting with US President Joe Biden in Washington in September, when the two leaders agreed to expand trade ties to strengthen ties.

The United States on Tuesday agreed to look into India’s demand for export of grapes, while New Delhi will consider allowing imports of American pork and pork products, the statement said.

Tai, along with Deputy US Trade Representative Sarah Bianchi in New Delhi, previously raised the issues of market access restrictions, high tariffs, unpredictable regulations and restricted digital trade between the two countries.

India has been resisting US demand to lower tariffs, arguing that the applicable tariffs were below the limits permissible under WTO rules, while calling for more exports of goods and services.

The bilateral goods trade between the two countries grew by nearly 50% in the first nine months this year compared to a year ago, as their economies reopened after restrictions due to the pandemic and reached 100 per cent this year, the joint statement said. Preparing to cross billion dollars.