Page 20 - Fta News Today

The minister says that they are actively discussing the free trade agreement with the EU and EFTA and they believe that both of these are eminently doable, , piyush goyal, european union, EFTA

"The 75 products have been identified from nine most promising sectors. These products contribute around USD 222 billion, which is around 50 per cent of Indias total exports. At the global level, these 75 products have significant presence in world exports, whereas Indias share of these products is only 6 per cent of the total world exports," it said.

India Business News: India and the Association of Southeast Asian Nations (Asean) are set to begin a review of their existing free trade agreement (FTA), with a focus on m

ASEAN Secretary-General Dr Kao Kim Hourn has urged India to join the Regional Comprehensive Economic Partnership (RCEP) for greater market access. He argued that all partners would benefit from the inclusive, open, and rule-based trade pact. The RCEP, a free trade area, comprises 10 ASEAN members and five dialogue partners.

A major long-term agreement that will redefine the relationship between the UK and a critical Indo-Pacific partner will be signed by the Prime Minister and the President of the Republic of Korea

"In the medical devices sector, a lot of issues related to rules of origin are still there. Demand for customs duty concessions is also there," the official said, adding negotiations are going on between the two countries to resolve the differences in both goods and services sectors.

The fast-growing EV market in India is catching the eyes of global players. The UK is also looking at phasing out ICE (internal combustion engine) vehicles by 2035, and the British auto market is export-driven.

Piyush Goyal stated, "Weve had several rounds of negotiations with the UK. Currently, we are in active dialogue on different tracks. The Free Trade Agreement has closed almost 20 chapters out of 26. Amongst the few issues pending, theres nothing impossible to navigate. Free Trade Agreements are crystal gazing into the future".

The government is hoping to diversify Indias import basket in terms of essential metals and minerals by entering into a trade agreement with Peru

Focusing on the future can make space for some sensible give-and-take over an FTA. Confidence in the skills of its lawyers, choices of its consumers and quality of its pharmaceuticals would help India seize an opportunity for freer trade with the UK.