Last Update: July 12, 2023, 02:11 AM IST
London, United Kingdom (UK)
Goyal, who is on a brief visit to the UK, met his UK counterpart Trade and Business Secretary Kemi Badenoch to discuss a mutually beneficial deal.
India and UK aim to accelerate FTA talks for mutually beneficial deal as Commerce Minister Piyush Goyal meets his UK counterpart
Union Commerce and Industry Minister Piyush Goyal on Tuesday said that India and the UK have agreed to accelerate the ongoing Free Trade Agreement (FTA) talks.
Goyal, who is on a short visit to the UK, took to Twitter after meeting his UK counterpart – Business and Trade Secretary Kemi Badenoch – that they agreed to continue working towards a mutually beneficial deal. India and the UK began the 11th round of their FTA talks last Wednesday, which is expected to conclude on Friday.
“Had a meeting with UK Secretary of State for Business and Trade Kemi Badenoch in London. Discussed how both sides can further accelerate India-UK FTA negotiations for a mutually beneficial deal,” tweeted Goyal.
This came a day after a UK government source said a senior Indian ministerial visit to Britain amid a round of talks showed “there is political will to make progress towards an ambitious trade deal”.
“The potential is clear – a strong trade deal will strengthen the economic relationship between the UK and India, which is already worth GBP 36 billion in 2022. But we will only sign if we have a deal that is in the best interests of the UK I will,” the source noted.
According to stakeholders involved in the discussions, Goyal will hold extensive discussions in the UK to speed up the FTA as both sides feel they are close to an agreement.
Last week, the commerce ministry issued a statement confirming that Goyal’s visit to the UK comes at an important juncture when both countries are determined to expand their economic ties and find ways to increase bilateral trade.
“With the FTA negotiations picking up pace, the visit is aimed at taking discussions forward and paving the way for a comprehensive and mutually beneficial agreement that will boost economic growth and enhance relations between the two countries,” the ministry statement said. will strengthen.”
The visit will focus not only on the ongoing India-UK FTA negotiations, but also a meeting with Ministers of the European Free Trade Association (EFTA) member states – Switzerland, Norway, Iceland and Liechtenstein – to discuss progress on trade Will be involved. and the Economic Partnership Agreement (TEPA).
(This story has not been edited by News18 staff and is published from a syndicated news agency feed – PTI,
