India, U.S. To Conclude Three Trade Agreements On Fast-track Basis

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India and the United States (U.S) on Monday agreed to conclude three agreements related to trade within a time frame on fast-track basis, media reported, citing a Joint Statement released at the conclusion of the Sixth Ministerial Level meeting of Indo-U.S Trade Policy meeting. Commerce Minister Mr. Anand Sharma headed the Indian delegation at the meeting while the US delegation was headed by Mr Ron Kirk, the U.S. Trade Representative.

The first of the three agreements relates to enhancing and deepening trade and investment engagement. The two countries agreed to work closely in promoting real and meaningful cooperation in both trade as well as investment.

The second agreement is related to Intellectual Property Rights, or IPR, cooperation agreement to reassure and comfort investors from both the countries.

The third agreement is related to setting up of a traditional knowledge digital library.

Commenting on the agreements, Anand Sharma said, "The U.S. has submitted us a draft on these issues and we will certainly study it. We hope to sign agreement very soon. These are in continuation of the high-level engagement between the two countries and in the run-up to the Prime Minister, Manmohan Singh's, visit to Washington next month."

According to the Joint Statement, the two countries expressed their readiness to continue their focus on agriculture, innovation and creativity, investment, services and tariff and non-tariff barriers.

(Market News Provided by RTTNews)