For Immediate Release:May 2, 2006
Contact:Matt Englehart (202) 482-3809
UNITED STATES AND INDIA BOOST TRADE TIES: COMMERCIAL DIALOGUE ENHANCED
New Delhi – U.S. Under Secretary of Commerce for International Trade Franklin L. Lavin and Indian Commerce Secretary S.N. Menon launched a renewed Commercial Dialogue between their two countries yesterday.
Originally established in 2000, the Commercial Dialogue serves as a mechanism for addressing trade disputes between the United States and India. Yesterday’s meeting took place as a result of the commitment during President George W. Bush’s February 2006 visit to India to elevate and expand the Commercial Dialogue. India is one of the few countries in the world with which the United States has a sub-cabinet dialogue of this nature; the United States currently has sub-cabinet level commercial dialogs with China, the EU and NAFTA.
"Our trade has nearly doubled in the last three years, and we have re-crafted the Commercial Dialogue to account for the enormous changes that we are witnessing as our commercial relationship grows. Our action demonstrates the opportunities we see in this market as well as provides us with additional tools to address challenges," noted Lavin.
The Commercial Dialogue will:
- continue to involve the private sector to reduce bilateral trade issues;
- foster progress in functional, cross-cutting areas, such intellectual property rights and trade remedies; and
- re-focus its existing work on standards to address sectoral topics.
“This elevated engagement marks recognition of the improving climate for business in India,” remarked Lavin. “I would like to explore a roundtable on pharmaceuticals and a business mission under the aegis of the Commercial Dialogue.”
Further information on the International Trade Administration is available at www.trade.gov.