US Treasury Secretary Jacob Lew is likely to raise issues of taxation and deepening collaboration on combating illicit financial activity with Finance Minister P. Chidambaram, who arrives here today to attend the IMF/World Bank annual meetings.

Lew will host Chidambaram on October 13 for the fourth annual meeting of the India-US Economic and Financial partnership.

Chidambaram will also participate in the BRICS Finance Ministers and Central Bank Governors meeting, the G-24 Ministerial Meeting and the G-20 Finance Ministers and Central Bank Governors Meeting during his stay in Washington from October 9 to 12.

“Secretary Lew looks forward to being joined by Chairman Bernanke to engage with India’s Finance Minister Chidambaram and (the RBI) Governor Rajan on the major macroeconomic and financial sector issues affecting our two economies,” Lael Brainard, US Treasury Under Secretary for International Affairs, said ahead of the meeting.

“In this fourth meeting of the partnership, the Secretary will be pressing strongly on priorities of interest to our private sector, including tax issues, and deepening collaboration on combating illicit financial activity that will make both of our economies more secure,” Brainard said.

Reserve Bank of India Governor Raghuram Rajan and Economic Affairs Secretary Arvind Mayaram, among others, will also attend the IMF/World Bank annual plenary meetings on October 11 and 12.

The US-India Economic and Financial Partnership has served as a platform for greater cooperation on economic issues of importance to both nations, the Treasury said.

Both countries recognise the importance of expanding bilateral economic engagement, noting the increasing range of global macroeconomic and financial issues, including those related to illicit finance, on which the United States and India cooperate, the Treasury said.

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