Commerce Minister Piyush Goyal engaged with the EU team in Mumbai, paving the way for the 10th round of FTA negotiations from March 10-14 in Brussels. Concurrent discussions with the U.K. and anticipated meetings in the U.S. outline India’s ambitious trade agenda with developed economies, targeting comprehensive and mutually beneficial agreements.
Commerce Minister Piyush Goyal recently met with the European Union delegation in Mumbai, setting the stage for the upcoming 10th round of Free Trade Agreement (FTA) negotiations scheduled for March 10-14 in Brussels. This meeting is part of India’s strategy to engage with multiple developed economies as the country advances its global trade agenda.
During the discussions, Goyal highlighted the broad contours of the proposed India-EU FTA with EU Trade Chief Maros Sefcovic, emphasizing the importance of a balanced and mutually beneficial trade agreement. Following the meeting, Goyal expressed optimism about deepening economic ties through social media, mentioning the fruitful dialogue with the EU delegation.
Sefcovic reciprocated Goyal’s sentiments, stating the EU’s commitment to establishing a commercially meaningful FTA encompassing goods, services, and investment, further solidifying the importance of EU-India relations. Concurrently, negotiations with the United Kingdom, relaunched on February 24, are ongoing.
Goyal is also preparing to engage in bilateral discussions with U.S. officials to negotiate a multi-sector Bilateral Trade Agreement (BTA). His visit includes meetings with U.S. Trade Representative Jamieson Greer and Commerce Secretary Howard Lutnick, where they aim to establish a roadmap for trade negotiations encompassing various sectors.
As India navigates these discussions, officials note that comprehensive trade deals are sought after by major economies due to India’s rapid economic growth and strategic importance. The goal is to finalize these agreements by the end of the current fiscal year, reflecting India’s position of strength in international trade discussions.
In summary, India is actively pursuing FTA negotiations with the EU, U.S., and U.K., reflecting its ambitious trade agenda. The outcomes are anticipated to shape India’s economic relations and enhance its strategic position in global trade dynamics.
In conclusion, Commerce Minister Piyush Goyal’s meetings with the EU and upcoming discussions with the U.S. and U.K. highlight India’s proactive approach to establishing significant trade relationships. With a focus on balanced agreements, India is poised to enhance its global trade footprint, fulfilling its strategic and economic objectives in a rapidly changing international landscape.
Original Source: www.hindustantimes.com
