India, UK affirm their commitment towards Free Trade Agreement
India, UK affirm their commitment towards Free Trade Agreement
India and the United Kingdom have affirmed their shared commitment towards Free Trade Agreement (FTA) between both the countries. The two sides will engage in early harvest schemes or limited trade agreements in a staged manner marking preparatory steps towards the free trade agreement.
The declaration was announced during the 14th Joint Economic and Trade Committee meeting, which was held virtually yesterday, July 24, 2020. Minister for Commerce and Industry Piyush Goyal and UK Secretary of State for International Trade, Ms Elizabeth Truss co-chaired the meeting. Minister of State for Commerce and Industry Hardeep Singh Puri and his UK counterpart, Minister of State for International Trade, Mr Ranil Jayawardena were also present during the meet.
Mr Goyal in a tweet said, "Co-chaired 14th Joint Economic & Trade Committee virtual meeting along with UK Secretary of State for International Trade, Elizabeth Truss. Reaffirmed our shared commitment to a Flag of IndiaFlag of United Kingdom FTA & towards that, Early Harvest deals in a staged manner. @TrussLiz"
Co-chaired 14th Joint Economic & Trade Committee virtual meeting along with UK Secretary of State for International Trade, Elizabeth Truss.
— Piyush Goyal (@PiyushGoyal) July 25, 2020
Reaffirmed our shared commitment to an 🇮🇳🇬🇧 FTA & towards that, Early Harvest deals in a staged manner. @TrussLiz https://t.co/appSDYlxxD pic.twitter.com/9uR8kMtj2u
It was decided in the meeting that a deliberation led by Mr Goyal and Ms Truss will be held in Autumn 2020 in New Delhi to carry forward the dialogue.
Mr Puri and Mr Jayawardena will have monthly meetings to intensify the dialogue. Both sides also resolved to cooperate in the health sector especially in view of the COVID-19 pandemic. It was decided that a meeting led by Minister Goyal and SOS Truss will be held in Autumn 2020 in New Delhi to carry forward the dialogue. The Co-chairs of Business led Joint Working Groups on Life Science and Health, ICT and Food and Drink set up during the last JETCO made their recommendations to the Ministers.
Both sides approached the talks with open minds and shared commitment to revival and revitalisation of the long-standing trade and economic linkages between India and the UK. Both sides also resolved to cooperate in health Sector especially in view of the present Pandemic of COVID-19.