Headlines
US strengthens trade engagement with India
Washington, Jan 31
The US says it strengthened
engagement with India through the US-India Trade Policy Forum and
secured the historic Trade Facilitation Agreement at the WTO after
overcoming an impasse with India
"In November, the United States
with India and other WTO Members overcame an impasse in the Bali Package
to allow the full implementation of a Trade Facilitation Agreement
(TFA)," the US Trade Representative said in its yearend review.
"The
TFA is the first multilateral trade agreement in the WTO's 20 year
history, and will reform global customs practices and substantially
reduce the costs and time associated with goods crossing borders," it
noted
"The efficiencies generated by customs reforms in the TFA
will significantly reduce the costs of trading for WTO Members,
developed and developing countries alike," the review said
Some estimates, it noted, suggest the global economic value of the new WTO deal could be worth $1 trillion.
The
US had also strengthened engagement with India through the TPF, the
premier bilateral forum for discussion and resolution of US and India
trade and investment issues.
In November, USTR Michael Froman led a US delegation to the TPF in Mumbai, the review noted.
Earlier,
in February, the US challenged before WTO India's domestic content
requirements for it National Solar Mission affecting US solar product
exports.
In addition to the WTO consultations, the US has engaged
India on its concerns regarding the NSM over the last three years,
including in bilateral fora such as the TPF and the US-India Energy
Dialogue, and at the WTO in various committees, it said.
The
review said it had also prevailed on numerous Indian challenges to US
countervailing duties to address what it called India's "unfair steel
subsidies."
In December, the WTO Appellate Body rejected the vast
majority of India's appeals seeking additional findings on US
regulations and determinations, it said.
The US had in October
also prevailed against Indian ban on US agriculture products - such as
poultry meat, eggs, and live pigs - allegedly to protect against avian
influenza.
The US poultry industry, which directly employs over
350,000 workers and consists of nearly 50,000 family farms - had been
particularly affected by India's restrictions, the review said.
The WTO has agreed the panel report will be adopted or appealed in January 2015.
The
review noted USTR had concluded an Out-of-Cycle Review of India to
evaluate progress toward achieving meaningful, sustained and effective
engagement on IP issues.
India, it said had made useful
commitments, including to institutionalise high-level engagement on IP
issues, to pursue a specific work programme and to deepen cooperation
and information exchange with the US on IP-related issues under the TPF.
The
US, the review said, looks forward to the 2015 Special 301 Review
process, which will provide the next formal opportunity for a thorough
review of India's environment for IP protection and enforcement.
(Arun Kumar can be contacted at [email protected])