U.S., INDIA INCREASE COOPERATION IN HIGH-TECH TRADE

U.S., INDIA INCREASE COOPERATION IN HIGH-TECH TRADE    The United States and India have agreed to strengthen their relationship in the high-tech trade arena.
   U.S. Undersecretary of Commerce Kenneth I. Juster and Indian Foreign Secretary Kanwal Sibal signed a Statement of Principles for U.S.-India High Technology Commerce on Feb. 5.
   “There is immense potential for trade in the high-technology sector between the United States and India, in areas ranging from information technology to telecommunications to biotechnology,” Juster said. “The statement of principles that was signed today will serve as the framework for advancing such trade between our two countries consistent with our national security and foreign policy interests.”
   In 2001, India ranked 28th among U.S. export markets, behind smaller economies such as Ireland and the Dominican Republic. U.S. high-tech shippers want to increase their business in India.
   In the statement of principles, the U.S. and India government recognize the potential for increased U.S.-India technology commerce and the need to reduce tariff and non-tariff barriers. It also recognizes both governments’ commitment to prevent the spread of goods and technologies that threaten their national security.
   The United States and India plan to soon hold the first meeting of the India-United States High Technology Cooperation Group to develop a schedule of activities to move the statement of principles forward.
   A copy of the statement of principles is available online at https://www.bis.doc.gov.