U.S., India foster trade for small shippers

U.S., India foster trade for small shippers

Kirk

   The U.S. and Indian governments announced an initiative to encourage small businesses in both countries to participate more in bilateral trade.
   The initiative, 'Integrating U.S. and Indian Small Businesses into the Global Supply Chain,' is part of the 'Framework for Cooperation on Trade and Investment,' signed by U.S. Trade Representative Ron Kirk and Indian Minister of Commerce and Industry Anand Sharma in Washington on Wednesday.
   'There is almost limitless potential for growth in trade between our two countries, and that can contribute to economic recovery and job creation in the United States and continued economic growth in India,' Kirk said in a statement.
   'We can realize that potential by working together toward the goals set forth in the framework agreement, such as developing and enforcing policies that encourage technological innovation; increasing agriculture, services, and industrial goods; and increasing investment flows,' he added. 'Closer collaboration with entrepreneurs and private sector leaders in both our countries will enhance our work.'
   Kirk and Sharma announced their intent to finalize the framework when they co-chaired the U.S.-India Trade Policy Forum meeting in New Delhi on Oct. 26, 2009. The two governments agreed to work together to support greater involvement by small and mid-sized businesses in each other's markets, and to pursue initiatives in the further development of India's infrastructure, and collaboration on clean energy and environmental services, information and communications technologies,    and other key sectors.
   This week Kirk and Sharma also hosted a meeting of a restructured Private Sector Advisory Group to the Trade Policy Forum. The group of American and Indian trade experts will provide strategic counsel to enhance the two governments' efforts to increase bilateral trade and investment. The members of the group also offered to work as implementing partners for initiatives taken by the Trade Policy Forum, including the small business initiative.