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US Ambassador Talks Up Possible US-India Free Trade Deal

by Mike Godfrey, Tax-News.com, Washington

15 January 2018


The US Ambassador to India has suggested that deepening political and economic cooperation between the US and India could eventually lead to the conclusion of a bilateral free trade agreement.

In his policy address on US-India Relations at Carnegie India, the US Ambassador to India, Kenneth Juster, said that bilateral trade grew from approximately USD20bn in 2001 to USD115bn in 2016, but that there was still scope for the flow of goods and services to increase further.

"I'd like to see us transform the economic relationship," he said, adding: "Ultimately, I'd love a vision of a US-India Free Trade Agreement."

"I would contend that we have enormous potential in the economic relationship," Juster continued. "And therefore, in the economic sphere, a big initiative would be ultimately a free trade agreement and the signal that it would send to the business communities in both countries."

"To be sure, we are a long way right now from that aspiration, and there are many intermediate steps to be taken, but we should find creative ways to use our Trade Policy Forum and our Commercial Dialogue to enhance understanding, build confidence, and solve problems," he concluded.

TAGS: business | free trade agreement (FTA) | India | export duty | agreements | United States | import duty | trade | services

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