US-India partnership targets third-party countries for five years in energy, trade, investment

This joint statement establishes a framework for cooperation between the United States (Millennium Challenge Corporation) and India (Development Partnership Administration of the Ministry of External Affairs) to promote sustainable economic growth and reduce poverty in third-party countries. The parties aim to strengthen regional integration and connectivity, particularly in energy, trade, and investment.

Who it concerns: The agreement involves the Millennium Challenge Corporation (USA) and the Development Partnership Administration of the Ministry of External Affairs (India). It affects 'Partner Countries' (mutually identified countries or regions) and sectors including energy, trade, investment, and project development.

What was agreed

• Cooperation duration is five years from the date of the statement.
• Activities include exchanging information and experience in relevant sectors.
• Providing advisory or technical assistance to Partner Countries for sector policy reform and project management.
• Facilitating site visits to cross-border or relevant projects.
• Capacity building of Partner Countries.
• Periodic meetings to discuss activity status and identify new opportunities.

Also in the document

• The cooperation is focused on third-party 'Partner Countries' rather than bilateral trade between the US and India.
• Specific sectors highlighted for regional integration include energy, trade, and investment.