India and the United Kingdom will give an impetus to their ongoing negotiations over a Free Trade Agreement (FTA) during Union Minister of Commerce and Industry Piyush Goyal’s two-day visit to the UK beginning tomorrow.
Goyal’s visit will not only be focused on the ongoing FTA but he will also be meeting with ministers from the European Free Trade Association (EFTA) member countries to discuss the progress of the Trade and Economic Partnership Agreement (TEPA) with EFTA.
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The visit comes at a crucial juncture, as both India and the UK are committed to expanding their economic ties and exploring avenues for enhanced bilateral trade.
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 Commerce Ministry said today.
During the visit, Goyal will engage in high-level meetings with his UK counterparts, including the Secretary of State for International Trade, as well as representatives from various sectors and industries.
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.
Furthermore, the minister will also meet with ministers and officials from the EFTA member countries, (Switzerland, Norway, Iceland, and Liechtenstein), to assess the progress made in the ongoing negotiations of the TEPA with EFTA.
The TEPA aims to enhance trade and economic cooperation between India and the EFTA member countries, fostering an environment conducive to increased investments, reduced trade barriers, and greater market access.
Goyal’s visit underscores the commitment of the Indian government to actively engage with its international partners and explore opportunities for economic growth and development.
It reflects the determination to forge strong and mutually beneficial trade relationships that will not only benefit the economies of both India and the UK but also contribute to the overall prosperity and welfare of their respective citizens.
