The majority of India-UK FTA problems have been resolved or are in advanced stages of negotiation:

 

The majority of India-UK FTA problems have been resolved or are in advanced stages of negotiation:



The majority of policy discussions in the free trade agreement (FTA) with the UK have either concluded or are at an advanced stage of negotiation, according to a senior official on Monday.

The 14th round of discussions between India and the United Kingdom, which began on January 10, is set to finish soon in New Delhi. Another official stated that this could be the final round.

"Discussions are being held at both the higher and team levels to iron out the differences," said L Satya Srinivas, additional secretary in the department of commerce.

The India-UK FTA negotiations began in January 2022 and would cover 26 chapters or policy areas like as intellectual property, rules of origin, tariff reductions, and market access. Aside from the FTA, both countries hope to negotiate a Bilateral Investment Treaty (BIT).

The United Kingdom is India's most important commercial partner, with total goods trade of $20.3 billion in 2022-23, up from $17.5 billion in 2021-22.

Srinivas stated that the seventh round of discussions on the planned trade accord between India and the European Union (EU) is set for February 19-23 in New Delhi. This week, discussions on modalities for the services and investments chapter will take place at the track and chief negotiator levels. The India-EU Free Trade Agreement proposes to include 23 policy areas or chapters.

From January 8 to 13, India and the European Free Trade Association (EFTA), which includes Switzerland, Norway, Iceland, and Liechtenstein, held talks on their Trade and Economic Partnership Agreement.

The discussions focused on trade in goods and services, investment protection, cooperation, trade facilitation, and rules of origin, with the third round of goods offers and the second round of services offers being exchanged.

The sixth round of talks between India and Peru on a possible trade agreement is slated for February 12-15. On the deal, the ministry held stakeholder discussions with line ministries, export promotion councils, and industrial chambers.

Amardeep Singh Bhatia, Additional Secretary in the Department of Commerce, stated that great progress has been achieved on the India-Oman free trade agreement and that the next round of talks will begin on January 16.

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