The latest Modi-Trump meeting laid down a new path for Indo-US bilateral ties.
After addressing the mass gathering, the two leaders met for a bilateral discussion on February 25, 2020 and came to a consensus on cooperation in key sectors.
This was revealed in a joint vision statement released after Modi-Trump bilateral discussion.
The duo have reportedly decided to enhance defense and security cooperation through collaboration in the development and production of advanced military systems.
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Besides, they also discussed strong cooperation in the areas of trade, security, technology sharing, regional stability and tackling global issues like the ‘COVID-19’ outbreak.
The two sides also dwelt upon building a strategic partnership in the Indo-Pacific region and at the global level.
Trump promised Indian PM of giving highest priority in technology transfer and especially, the advanced military technology.
He appreciated India’s role of strategic security in the Indian Ocean region.
With regard to trade deal, PM Modi said, “President Trump and I have agreed today that the understanding that has been reached between our commerce ministers lets our teams make it legal. We have also agreed to start negotiations for a big trade deal.”
“Our teams have made tremendous progress on a comprehensive trade agreement and I’m optimistic we can reach a deal that will be of great importance to both countries,” reads Trump’s statement.
On the Quad initiative, Trump said, “Since I took office, we have held the first Quad ministerial meeting… and expanded cooperation on counterterrorism, cybersecurity, and maritime security to ensure a free and open Indo-Pacific.”
The two sides also reportedly discussed on telecom and internet cooperation with special emphasis on the implementation of 5G technology.
With regard to oil & natural gas sector, Trump informed that Exxon-Mobil signed a deal to improve Indian natural gas distribution network to facilitating more US LNG export to India.
Towards this end, the US International Development Finance Corporation (DFC) is preparing to set up a permanent office in India.
Foreign secretary Harsh Vardhan Shringla said the corporation will begin its operations with UD 600 million as concessional financing.
With regard to energy sector, the two leaders have reportedly “encouraged the Nuclear Power Corporation of India Ltd and Westinghouse Electric Co to finalize the techno-commercial offer for the construction of 6 nuclear reactors in India at the earliest date”.
“Our strategic energy partnership established shortly before is becoming stronger. And mutual investment in this area has increased… Be it renewable energy or nuclear energy, our cooperation is getting new energy,” the Indian PM said.
At the global level, US reiterated about its continuous support to India’s permanent membership at the UN Security Council and for early entry into the Nuclear Suppliers Group.
The bilateral meet between the two leaders lasted for five-long hours and ended up on the lines of ‘tremendous progress’.
Thank you @POTUS @realDonaldTrump and @FLOTUS @MELANIATRUMP for coming to India. This visit has been a path-breaking one. We have covered great ground as far as strengthening bilateral relations are concerned. India-USA friendship benefits the people of our nations and the world.
— Narendra Modi (@narendramodi) February 25, 2020