• Thursday, June 30, 2022

Business

India, UK discusses ways to promote trade, investments

Indian commerce minister Piyush Goyal. (Photo: Stefan Rousseau/Getty Images)

By: Sarwar Alam

India and the UK have held discussions on promoting bilateral trade and investments between the two countries, an official statement said on Monday (8).

The talks were held between India’s minister for commerce and industry Piyush Goyal, and UK secretary of state for international trade Elizabeth Truss MP on February 6.

Both the ministers agreed to deepen trade cooperation between the two countries through an Enhanced Trade Partnership (ETP).

“They also reviewed progress in removing market access barriers on both sides and ongoing cooperation in response to COVID-19,” the commerce ministry said.

It added that the two sides reviewed the ongoing engagements between the two sides for an ETP to develop a roadmap that would lead to a potential comprehensive FTA (free trade agreement), including considerations on an interim pact on a preferential basis.

“In a significant step forward, the ministers agreed that this partnership would formally be launched during the visit of the UK prime minister to India, later this year,” it said.

The two countries also expressed commitment to relaunch the UK-India CEO Forum and agreed on the Forum’s meeting at the earliest.

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