UK-India complete fifth round of talks for Free-Trade Agreement

Date:

London: The United Kingdom and India have now completed five rounds of talks regarding the Free Trade Agreement (FTA). The teams of negotiation officials met in a hybrid manner. While some teams met in New Delhi, India, a majority of officials joined the talks virtually. 

The officials will continue to work throughout the summer, aiming to conclude the majority of talks on a comprehensive and balanced FTA by the deadline of the end of October 2022, as per the official statement. 

Advertisement

The fifth round of negotiations included technical experts from both the UK and India for detailed draft-treat text discussions in 85 separate discussions covering 15 policy areas. As the official data reports, the bilateral trade in goods between the United Kingdom and India stands at $16 billion in 2021-22. This shows a surge of 22.17% as compared to trade in 2020-2021, which then stood at $13.11 billion.

While the imports from India in 2021-2022 stood at $9.43 billion, the exports stood at $6.59 billion, thus giving a balance of trade of $2.84 billion in the same year.

In 2021, India was the UK’s 15th largest trading partner, and the UK is India’s 18th largest trading partner, with manufacturing exports accounting for over 90 per cent of India’s export to the UK, consisting of clothing, medicine, pharmacy products, metal manufacturers, organic chemicals, and precious stones.

India has signed 13 regional Free Trade Agreements with numerous countries, namely Japan, South Korea and ASEAN countries, along with the member countries of SAARC. 

 The countries have called for the discussions to be concluded by the Diwali deadline, and efforts have been fostered for the same cause.

 

Advertisement

Share post:

spot_img

Popular

More like this
Related

UK: MP Robbie Moore visits St John’s Church in Ben Rhydding to support Rise Up Pay Up campaign

British Conservative Party Politician and Member of Parliament in the United Kingdom Robbie Moore recently visited St John's Church in Ben Rhydding and Christchurch in Ilkley and expressed his pleasure to meet with the members of the Church and also appreciated them for tackling the urgent issue of climate change and its impact on the communities around the world.

UK: MP Priti Patel visits local schools and businesses in May 2023, shares update

British Conservative Party Politician and Member of Parliament in the United Kingdom, Priti Patel, expressed her pleasure and gratitude for visiting several schools and businesses to discuss a range of issues affecting them and to be able to work for their upliftment at the ground level.

Dominica: PM Roosevelt Skerrit invites attendants to Giraudel/Eggleston Flower Show, shares glimpses

The Government of the Commonwealth of Dominica has started the Giraudel-Eggleston Flower Show and Market Fair in the country’s capital, Roseau. The theme for the 2023 edition of the event was “50 Years and Still Blooming.” The prime Minister of the Commonwealth of Dominica, Dr Roosevelt Skerrit, took to his social media account to share some glimpses of the event.

UK: MP Laura Farris shares experience of Family day out at Yattendon & Frilsham Fete

UK: British Conservative Party Politician and Member of Parliament Laura Farris and her daughter participated in the Cake Baking competition at the Yattendon & Frilsham Fete on Monday, May 29, 2023, afternoon and expressed their gratitude and pleasure to the organisers for making their day fantastic.