Latest News | UK Wants to Resume Talks on Proposed Trade Agreement in Jan: Commerce Secy
Get latest articles and stories on Latest News at LatestLY. The UK has suggested to resume the talks for the proposed free trade agreement in January next year, Commerce Secretary Sunil Barthwal said on Monday.
New Delhi, Dec 16 (PTI) The UK has suggested to resume the talks for the proposed free trade agreement in January next year, Commerce Secretary Sunil Barthwal said on Monday.
The talks for the proposed FTA began in January 2022. The 14th round of talks stalled as the two nations stepped into their general election cycles.
In November, an official statement said the dates for the FTA talks in early 2025 would be finalised through diplomatic channels.
"The UK wants to start the negotiations in January. Our delegation will go there. We will be taking up all the issues where we have left," he told reporters here.
When asked about the date, he said: "We are working out that".
The Indian industry is demanding greater access for its skilled professionals from sectors like IT and healthcare in the UK market, besides market access for several goods at nil customs duty.
On the other hand, the UK is seeking a significant cut in import duties on goods such as scotch whiskey, electric vehicles, lamb meat, chocolates and certain confectionary items.
Britain is also looking for more opportunities for UK services in Indian markets in segments like telecommunications, legal and financial services - banking and insurance.
The two countries are also negotiating a bilateral investment treaty (BIT).
There are 26 chapters in the agreement, which includes goods, services, investments and intellectual property rights.
The bilateral trade between India and the UK increased to USD 21.34 billion in 2023-24 from 20.36 billion in 2022-23.
(This is an unedited and auto-generated story from Syndicated News feed, LatestLY Staff may not have modified or edited the content body)