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This is an archive article published on June 25, 2013

Addressing mutual concerns can ensure win-win on trade: Kerry

The United States on Monday asked India to remove trade barriers to deepen economic cooperation

The United States on Monday asked India to remove trade barriers to deepen economic cooperation between the two nations,while India raised concerns over visa problems faced by its information technology companies.

India assured the visiting US Secretary of State John Kerry that it would look into the issue of trade barriers, and that both the sides would need to take into account each-others concerns to reach a win-win situation on trade ties.

Kerry is visiting New Delhi to continue the Strategic Dialogue process between the US and India.

We have issues on trade barriers front and we have been reassured that the Indian government will look into it, Kerry said at his joint press conference with Minister of External Affairs Salman Khurshid.

Khurshid said: We have brought to the Secretarys notice visa issue and he has promised he will do whatever he can. Both sides have to factor in concerns of both sides to create a win-win situation in trade ties.

Prior to his visit,US companies and lawmakers had urged Kerry to talk tough on policies regarding Indias rejection of patent suits against domestic pharma companies manufacturing generic drugs that are sold at substantially lower prices than what multinational companies charge.

Since 2008,India and the US have been engaged in bilateral investment treaty negotiations and the last round was held in June 2012. And the US Secretary of State has once again reiterated their desire to push for the treaty.

 

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