Suryaa National Desk: Surya Business & Diplomatic Desk, Mumbai: In one of the most important developments affecting the global economy, the proposed India-US bilateral trade... Surya Business & Diplomatic Desk, Mumbai: The proposed India-US bilateral trade agreement has reached its final stage in one of the most crucial developments affecting the global economy. US Secretary of State Marco Rubio has made it clear that this historic trade agreement is likely to be officially concluded within the next few weeks, without the need to wait for months.
Speaking exclusively to a leading media organization in Mumbai as part of his visit to India, he revealed that the trade talks between the two countries have accelerated unexpectedly and the agreement is very close to being finalised. What's left is to settle the technical details: Rubio said that consensus has already been reached on the main policy aspects of the treaty process, and that only a few technical details are being worked out. Although the Office of the Trade Representative is directly monitoring these negotiations, he said he is constantly reviewing the progress.
He emphasized that bilateral relations between superpowers like India and America are very special and it is very important that both countries are on the same page on every small issue before making a public announcement on the agreement. End of Tariff Disputes – Market Access: This latest agreement will resolve long-standing negotiations on issues such as tariffs, non-tariff barriers, foreign direct investment and market access. Analysts believe that this agreement will not only strengthen the strategic partnership of the two countries, especially in the fields of energy security, technology, and stabilization of supply chains, but will also provide wide opportunities for Indian exports in the US market.
