NEW YORK: At the fifth ministerial-level meeting of the US-India Trade Policy forum (TPF) held Feb 19 in Chicago, India's Minister of Commerce and Industry Kamal Nath and US Trade Representative Susan C. Schwab pursued opportunities for enhancing trade and investment ties between the two countries.The intensity of interaction within the different Focus Groups demonstrates the importance of this dialogue to both governments.

Consequently, the TPF has been able to address a wide range of issues, at policy as well as operational levels, leading to a number of initiatives which have expanded and deepened ties. "The US-India Trade Policy Forum offers an essential venue to move the dialogue forward on trade matters of importance to both countries," said Ambassador Schwab.

"The Trade Policy Forum has advanced discussions on a potential bilateral investment treaty and facilitated agreements to provide market access for items of interest to both sides." Minister Nath said, "We have been able to resolve a variety of issues and find mutually acceptable solutions through a dialogue under this Forum.

This milestone by milestone approach should be maintained to ensure continued progress, including in our bilateral discussions on Social Security totalization which were initiated in December 2007, and in our efforts to foster private sector collaboration between professions."The delegations also met for the second time with the US-India Private Sector Advisory Group (PSAG) to the TPF.

The PSAG presented its Vision Statement on key policy areas on which the Governments of India and the United States could enhance their engagement and further bolster the US-India economic partnership. The PSAG's first meeting took place in New York on Sept 24, 2007.On Feb 20, Ambassador Schwab gave keynote remarks at the "US-India SME Summit: Leveraging Global Supply Chains and Integrating the SME Community", hosted by The Chicago Council on Global Affairs, US-India Business Council (USIBC), Federation of Indian Chambers of Commerce and Industry (FICCI) and the National Association of Manufacturers.

On Feb 19, Minister Nath and Ambassador Schwab both addressed a luncheon gathering at the Executives' Club of Chicago and presided over the launch of "Investing in America: The Indian Story," an initiative by the USIBC and the FICCI. Minister Nath and Ambassador Schwab also discussed the Doha negotiations, agreeing that the US and India share a commitment to conclude a successful Doha Round in 2008. The TPF is an institutional arrangement between the two governments to discuss trade and investment issues.

The TPF is a key element of the US-India Economic Dialogue, which was launched during the visit of Indian Prime Minister Dr. Manmohan Singh to Washington in July 2005. The last TPF meeting was held during Ambassador Schwab's visit to India in April 2007.The PSAG was created to provide strategic direction to the TPF as the United States and India chart a path for enhanced US-Indian economic integration in the next five to ten years. The PSAG's membership includes key voices in the United States and India on international economic and trade policy.

The PSAG has identified the following intermediate targets for the two governments:1. Negotiate a mutually agreeable Bilateral Investment Treaty by the end of 20082. Continue to promote sectoral openings3. Promote regulatory cooperation4. Cooperate on all aspects of protection of intellectual property and promotion of technology transfer