New Delhi, 9th July 2023: Commerce and Industry Minister Piyush Goyal will visit the United Kingdom on July 10-11 to review the status of negotiations for a free trade agreement (FTA) between the two countries. The Minister’s visit would be centred on the current FTA negotiations between India and the United Kingdom.
This visit is significant because both India and the United Kingdom are dedicated to improving economic ties and exploring potential for increased bilateral commerce. The conversations held during the visit are expected to help create a favourable atmosphere for more economic cooperation between the two countries.
An official statement quoted by PTI states, “With the FTA negotiations gaining momentum, the visit aims to further propel the discussions and pave the way for a comprehensive and mutually beneficial agreement that would drive economic growth and strengthen ties between the two nations.”
The minister will hold high-level discussions with his UK colleagues, including the Secretary of State for International Trade, as well as representatives from diverse sectors and businesses, during his visit.
The statement further read, “These meetings will provide an opportunity to discuss the key priorities and objectives of the FTA negotiations, with a focus on addressing trade barriers, promoting investments, and fostering greater cooperation in areas such as technology, innovation, and intellectual property rights.”
In addition to his visit travel to the UK, Commerce and Industry Minister Piyush Goyal will meet with ministers and officials from European Free Trade Association (EFTA) member countries Switzerland, Norway, Iceland, and Liechtenstein.
The goal of these meetings is to assess the progress made thus far in the current Trade and Economic Partnership Agreement (TEPA) discussions.
The TEPA aims to improve trade and economic cooperation between India and EFTA member countries. The agreement’s goal is to establish a favourable climate that encourages increasing investment, reduces trade barriers, and permits improved market access for all parties concerned.
On January 13, 2021, India and the United Kingdom began negotiations for a trade deal.
