Both ensured that the TPF take a firm decision to integrate the economies across sectors and move towards securing an ambitious future for trade relations between the two strategic partners and democracies.
TPF working groups on agriculture, non-agricultural goods, services, investment and intellectual property will be activated and frequently meet.
Both sides underlined the significance of creating resilient and secure supply chains, and in this regard, the countries may work with like-minded partners in developing secure supply chains in critical sectors of trade and technology.
India highlighted the importance of cooperation in health sector, and expressed interest in partnering with US and its allies in developing a secure pharmaceutical manufacturing base for augmenting global supply chains, an official release said.
India highlighted the significance of restoration of generalised system of preferences benefits as it would help industries from both sides in integrating their supply chain efficiently.
Both sides agreed on the significance of negotiating a social security totalisation agreement in the interest of workers in both the countries.
The co-chairs directed the TPF working groups to develop plans of action for making substantive progress by March next year. An inter-sessional TPF meeting will be held by mid-2022.
ALCHEMPro News Desk (DS)
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