.jpg)
U.S. Secretary of the Treasury Tim Geithner and Finance Minister Pranab Mukherjee announced the establishment today of a new U.S.-India Economic and Financial Partnership to strengthen bilateral engagement and understanding on macroeconomic, financial sector, and infrastructure-related issues. Secretary Geithner will visit India in early 2010 for the Partnership’s launch with Finance Minister Mukherjee.
Both countries recognize the importance of expanding bilateral economic engagement, noting the rapid growth of U.S.-India economic ties and the increasing range of global macroeconomic and financial issues on which the United States and India cooperate. The Economic and Financial Partnership is a significant elevation of existing bilateral and multilateral economic dialogue between the United States and India, and will serve as a platform for greater cooperation on economic issues of importance to both nations.
The Partnership will focus on three broad areas for discussion – macroeconomic policy, the financial sector, and infrastructure development – and will meet at the Cabinet level once a year, alternately in the United States and India, led by Secretary Geithner and Minister Mukherjee. Working group and sub-cabinet level meetings will be held throughout the year to advance discussions on specific economic policy areas.
Additional details on the Partnership and its launch in 2010 will be announced in the months to come.
