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Piyush Goyal meets US President Joe Biden at APEC welcome reception

November 17, 2023 1:44 PM IST

Piyush Goyal | Biden | India-US ties | APEC

Union Minister of Commerce and Industry Piyush Goyal met US President Joe Biden at the Asia-Pacific Economic Cooperation (APEC) welcome reception on Thursday.

Taking to X (earlier Twitter), Piyush Goyal stated, “It was an honour meeting @POTUS at the Asia- Pacific Economic Cooperation (APEC) welcome reception yesterday.”

US President Joe Biden and First Lady Jill Biden hosted a welcome reception on Thursday for world leaders attending the APEC Summit. Piyush Goyal was invited to attend the APEC Summit in San Francisco. 

The Asia-Pacific Economic Cooperation grouping has 21 members. However, India is not one of them. India has sought membership in the APEC since 1991. Despite majority support, some concerns about India’s economic policies and supposed protectionist tendencies have hindered its inclusion. Additionally, a membership freeze, in effect since 1997 but not extended in 2012, has affected India’s entry.

During his visit to the US, Minister Goyal met various dignitaries, including US Treasury Secretary Janet Yellen and Peru’s Minister of Foreign Trade and Tourism, Juan Carlos Mathews. Discussions between Goyal and Mathews centered around the progress of the Free Trade Agreement negotiations between India and Peru.

Goyal also engaged with Alex Rogers, President of Qualcomm Technology Licensing & Global Affairs, exploring potential collaborations within India’s advancing semiconductor landscape.

On the sidelines of the APEC Leaders’ Meeting, Goyal met Japanese Prime Minister Fumio Kishida, further strengthening diplomatic ties.

Attending events like the Partnership for Global Infrastructure Investment (PGII) and the IPEF Investment Forum, Goyal expressed delight in joining global leaders and finance experts. He praised initiatives like the US-India Green Transition Fund by the US Development Finance Corporation (DFC) and National Investment and Infrastructure Fund (NIIF), emphasizing their potential to aid India’s renewable energy ambitions.

Goyal highlighted India’s attractiveness for global investments, attributing it to PM Narendra Modi’s initiatives aimed at enhancing the ease of doing business, transparency in regulatory frameworks, and sustainable growth.

 

 

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