India and the United States on Thursday “expressed their intention” to resolve “outstanding trade issues”.
Consultations in this regard took place in Washington DC where Trade and Industry Minister Piyush Goyal met with US Trade Representative Catherine Tai on 13 e India-US Trade Policy Forum (TPF).
“Ministers welcomed the recent intensification of work among their officials aimed at finding mutually agreed solutions to outstanding disputes at the WTO between the two countries,” said a joint statement released on Thursday. “They further instructed officials to continue this commitment with a view to achieving satisfactory results in the months to come.”
In this regard, the United States “appreciated India’s initial public consultation on the draft Drugs, Medical Devices and Cosmetics Bill and India noted that the comments and suggestions on the draft bill are being considered in accordance with standard procedures for presentation to parliament”.
Both sides also had in-depth discussions on the intellectual property (intellectual property) regime and appreciated the sustained work on this front under the Trade Policy Forum’s Intellectual Property Working Group. “The United States commended India’s ongoing national consultations regarding the administration of its intellectual property regime, including on the treatment of confidential business information related to the exploitation of patents, patent applications and streamlining trademark infringement investigations,” according to the joint statement.
Both parties have agreed to commit to copyright provisions taking into account existing “commitments” under the World Intellectual Property Organization’s Copyright Treaty and the Treaty on interpretation and phonograms of the World Intellectual Property Organization. The Indian team focused on restoring beneficiary status under the US Generalized System of Preferences program. “The United States noted that this may be considered, as warranted, in relation to eligibility criteria determined by the U.S. Congress,” the joint statement informed.
The two teams also exchanged opinions on “possible targeted tariff reductions.