Union Commerce and Industry Minister Piyush Goyal is scheduled to embark on a visit to the UK from July 10th to 11th. The primary focus of the visit is to advance the ongoing India-UK Free Trade Agreement (FTA) negotiations and hold discussions with ministers from European Free Trade Association (EFTA) member countries regarding the progress of the Trade and Economic Partnership Agreement (TEPA) with EFTA.
The timing of this visit is crucial, as both India and the UK are dedicated to expanding their economic cooperation and exploring opportunities for increased bilateral trade.
With the FTA negotiations gaining momentum, the purpose of this visit is to accelerate the discussions and lay the groundwork for a comprehensive and mutually beneficial agreement that will foster economic growth and strengthen the ties between the two nations.
During the visit, Minister Goyal will participate in high-level meetings with his counterparts in the UK, including the Secretary of State for International Trade, as well as representatives from various sectors and industries.
These meetings will provide a platform to address the key priorities and objectives of the FTA negotiations, with a specific focus on tackling trade barriers, promoting investments, and fostering closer collaboration in areas such as technology, innovation, and intellectual property rights.
Furthermore, the minister will engage with ministers and officials from EFTA member countries, namely Switzerland, Norway, Iceland, and Liechtenstein, to assess the progress made in the ongoing TEPA negotiations with EFTA.
The TEPA aims to enhance trade and economic cooperation between India and the EFTA member countries, creating an environment conducive to increased investments, reduced trade barriers, and expanded market access.
“The minister’s visit highlights the Indian government’s commitment to actively engage with international partners and explore opportunities for economic growth and development,” stated the Commerce and Industry Ministry.
This visit underscores the determination to forge robust 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 well-being of their respective citizens, the statement added.
