US: Commerce minister Piyush Goyal holds bilateral with counterparts from South Korea, Singapore

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US: Commerce minister Piyush Goyal holds bilateral with counterparts from South Korea, Singapore

SAN FRANCISCO: Union commerce minister Piyush Goyal on Monday (native time) met his counterparts from South Korea and Singapore and held bilateral conferences with the commerce ministers of each international locations in San Francisco.
Goyal is on a 4-day go to to San Francisco to attend the Indo-Pacific Financial Framework (IPEF) ministerial assembly. He has additionally been invited to attend the Asia-Pacific Financial Cooperation Summit there.
On the sidelines of the Indo-Pacific Financial Framework (IPEF), he met South Korean Commerce Minister Ahn Duk-Geun in addition to Singapore Minister for Commerce and Business Gan Kim Yong.
The strategic ties between India and South Korea have at all times been mutually useful.
In the course of the assembly, the leaders emphasised methods of enhancing cooperation in rising and futuristic areas.
India and Singapore have an in depth bilateral relationship primarily based on the convergence of financial and political pursuits, and the financial reforms in India for the reason that early Nineties have created a powerful foundation for cooperation with Singapore, opening up prospects for a big presence in one another’s economies.
The shut ties between the 2 Asian international locations have a historical past rooted in sturdy industrial, cultural and people-to-people hyperlinks throughout a millennium. The relations are primarily based on shared values and approaches, financial alternatives and convergence of pursuits on key points. There are greater than 20 common bilateral mechanisms, dialogues and workout routines.
India has been invited to the thirtieth APEC Financial Leaders’ Assembly 2023 as a ‘Visitor Economic system’. These conferences will concentrate on addressing commerce obstacles, selling investments, and fostering higher cooperation in areas resembling know-how and innovation.
One of many key focuses of the go to would be the joint occasion, co-chaired with US Commerce Secretary, Gina Raimondo on the “India-USA Innovation Handshake Initiative”, with the goal to elevate up and join the 2 sides’ dynamic startup ecosystems, handle particular regulatory hurdles to cooperation, and promote additional innovation and job progress, notably in rising applied sciences.
The Commerce and Business minister may even take part within the traders’ roundtable together with one-to-one conferences with CEOs. He may even work together with numerous stakeholders, resembling college students, entrepreneurs, enterprise capitalists and the Indian diaspora.