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Piyush Goyal meets Trade Ministers of IPEF companion nations on sidelines of ministerial summit in Los Angeles

Los Angeles [US], September 10 (ANI): Union Minister for Commerce and Industry Piyush Goyal on Saturday met with the Australian Trade Minister Don Farrell on the sidelines of the Indo-Pacific Economic Framework (IPEF) ministerial summit in Los Angeles.

The two leaders mentioned additional methods to strengthen bilateral commerce and cooperation below the IPEF.

“Met Australian Trade Minister Don Farrell on the sidelines of IPEF meet in Los Angeles. Our tradeinvestment ties have strengthened with the signing of the Economic Cooperation and Trade Agreement. Discussed ways to further boost bilateral tradecooperation under the IPEF,” Goyal tweeted.

Union Minister additionally met with the Coordinating Minister of Economic Affairs of Indonesia Airlangga Hartarto and held talks to bolster the financial ties.

[{f297ba59-d005-482b-8fa8-4783bfcdba2c:intradmin/ANI-20220909200718.jfif}]”Met with the Coordinating Minister of Economic Affairs of Indonesia, Airlangga Hartarto on the sidelines of the IPEF ministerial meet. Discussed expanding bilateral tradeinvestment under IPEF, giving further impetus to economic cooperation between IndiaIndonesia,” Goyal wrote in one other tweet.

Earlier, within the day, Goyal met Vietnam’s Minister of Industry and Trade, Nguyen Hong Dien to debate higher cooperation throughout areas of mutual curiosity.

[{10eb9729-8ddc-4dc2-9123-c6de4aa054c1:intradmin/ANI-20220909200757.jfif}]He stated that India and Vietnam purpose to develop bilateral commerce and generate jobs.

Union Minister Piyush Goyal is on a six-day go to to San Francisco and Los Angeles to attend the primary in-person Indo-Pacific Economic Framework (IPEF) ministerial assembly.

During the assembly on Friday, Goyal stated {that a} strong Indo-Pacific Economic Framework for Prosperity (IPEF) is being proposed to be introduced quickly in Parliament, and India will take its choices on completely different facets primarily based on the nationwide curiosity.

Goyal stated that India is an enormous supplier of expertise providers to US corporations and a sturdy framework is being proposed to be introduced to Parliament quickly. “India is looking to have contemporary and modern laws in the digital world while maintaining high levels of data privacy,” he added.

He stated that throughout the framework, “We can begin engaging among member countries on different areas of mutual interest. India will take its decisions on different aspects of the IPEF framework based on our national interest.””We had a useful engagement among member countries of the Indo-Pacific Economic Framework for Prosperity. Officials have worked to prepare the ground for useful interactions between Ministers. By tomorrow we hope to create a robust framework,” Goyal stated.

Goyal met US Trade Representative Katherine Tai forward of the assembly on Thursday.

“I’ve also had the opportunity to have bilateral discussions with USTR Ambassador Tai and US Commerce Secretary Gina Raimondo. Both were very excited about the good work happening between India and US,” Goyal stated.

“They were extremely favourable to expanding ties in trade and investments including hi-tech areas. They were also wishing to further resilient supply chains between India and US,” he added.

The Indo-Pacific Economic Framework for Prosperity (IPEF) was launched collectively by the USA and different companion nations of the Indo-Pacific area on May 23, 2022, in Tokyo.

India joined the IPEF and Prime Minister Narendra Modi attended the launch occasion together with US President Joe Biden, Japanese Prime Minister Kishida Fumio and different leaders from companion nations. Previously, digital Ministerial Meetings have been held instantly after the launch on May 23 and thereafter from July 26-27, 2022.

India is dedicated to a free, open and inclusive Indo-Pacific Region and would work in the direction of deepening financial cooperation amongst companions for the expansion and prosperity of the area. The framework is inclusive and permits flexibility to companion nations to affiliate with pillars primarily based on their respective priorities, the Ministry of Commerce and Industry stated in a press release. (ANI)