Union Minister of Commerce and Industry Piyush Goyal meets Kemi Badenoch, U.Okay. Secretary of State for Business and Trade, on August 26, 2023
| Photo Credit: ANI
Indian and U.Okay. officers will continue their negotiations till the month-end to iron out variations on the proposed free commerce settlement (FTA), the Commerce Ministry stated on August 27.
This assembly can be adopted by a evaluate on the larger degree, it stated.
Following the G20 Trade and Investment Ministers Meeting (TIMM) at Jaipur, the progress of the negotiations was reviewed by Commerce and Industry Minister Piyush Goyal and UK’s Secretary of State for Trade Kemi Badenoch on August 26.
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“Teams are going to continue negotiations till the end of August 2023 which will be followed by stock taking at the higher level,” it said.
While expressing satisfaction over the last 12 rounds of negotiations wherein several chapters have been finalized, both exuded confidence that the next round of talks to be similarly successful.
“Both Chief Negotiators apprised the ministers in regards to the present state of play, points excellent for decision and their steady joint efforts to iron out the identical,” the Ministry added.
The Ministers directed the officials to maintain a good pace of exchanges with a better understanding of each other’s aspirations and sensitivities.
“Both leaders expressed their unwavering dedication to reaching a conclusion on a good, balanced, and mutually useful commerce deal that may improve financial cooperation between the 2 nations,” it added.
In a separate statement, the Ministry said that Mr. Goyal and Swiss State Secretary for Economic Affairs Helene Budliger Artieda also held talks on ways to strengthen economic ties.
They reviewed the progress made in the ongoing negotiations for a Trade and Economic Partnership Agreement (TEPA) between India and EFTA (European Free Trade Association).
The EFTA members are Iceland, Liechtenstein, Norway, and Switzerland.
“Both leaders reiterated their shared imaginative and prescient of reaching a mutually useful commerce deal based mostly on the precept of reciprocity that displays the evolving financial landscapes of each India and the EFTA nations,” it stated.
