UK Secretary of State for Trade Kemi Badenoch and Indian Commerce and Industry Minister Piyush Goyal have reiterated their commitment towards a “mutually beneficial” UK-India Free Trade Agreement (FTA) and both sides decided that their respective teams will continue negotiations till the end of this month, to will be followed by stock-taking at a higher level.
Following the G20 Trade and Investment Ministers Meeting (TIMM) in Jaipur, Rajasthan, the minister met for a stock-take and expressed satisfaction over the last 12 rounds of negotiations wherein several chapters have been finalised, both ministers expressed confidence that the next round of negotiations to be similarly successful. Both Chief Negotiators (CNs) apprised the Cabinet ministers about the current state of play, issues outstanding for resolution and their continuous joint efforts to iron out the same.
While appreciating the efforts of both the CNs, the ministers desired a good pace of exchanges to be continued with a better understanding of each other’s aspirations and sensitivities. Both leaders expressed their unwavering commitment to reaching a conclusion on a “fair, balanced, and mutually beneficial” trade deal that will enhance economic cooperation between the two countries, India’s Ministry of Commerce and Industry said.
Minister Goyal thanked Badenoch for her support and constructive participation in the G20 TIMM at Jaipur. He also invited her to participate in B20 Summit India 2023 events. The meeting was also attended by Commerce Secretary Sunil Barthwal and DG Trade Negotiations Amanda Brooks.
The G20 Trade and Investment Ministerial Meeting TIMM was held in Jaipur on August 24 and 25. The meeting was preceded by the 4th and last Trade and Investment Working Group TIWG meeting under India’s G20 Presidency, which took place on August 21 and 22 in Jaipur.
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The first three TIWG meetings were held in Mumbai, Bangalore and Kevadia respectively. Both meetings were attended by more than 300 delegates, including trade ministers/secretaries and heads of delegations from G20 member countries, invitee countries, regional groupings and international organisations.
The deliberations focused on building consensus on global trade and investment-related issues, along with accomplishing action-oriented proposals put forward by the Indian presidency.
(ANI)