LONDON: Negotiations on a Free Trade Agreement (FTA) with India will not be a “free for all deal” but something that is good for both the countries and not for a particular region, the UK government said on Diwali on Tuesday. Alerted as time limit set. Prime Minister’s level approach to the agreement.
Britain’s foreign minister for international trade, Kemi Badenoch, who is in charge of FTA negotiations under Prime liz truss led government, was addressing concerns about the country’s service sector’s access to the Indian market conservative Party Annual conference in Birmingham.
senior cupboard The minister also indicated that the Diwali timeline set by the former Prime Minister boris johnson was not “arbitrary” and aspects could be completed beyond that time limit.
“We want something comprehensive, but it has to be right for both countries,” Badenoch said.
“The prime minister has a deadline, which the previous prime minister had. That was a fairly long time frame, so it’s not arbitrary, it wasn’t set last week. But making a trade deal is not an easy thing to do. So, what we want to do is do something that elevates both countries. The service sector can’t have everything we want, we can’t get everything, we can’t do a one-sided, free-for-all deal. are,” she said.
“But just because we have a free trade agreement, doesn’t mean we can’t do more later,” she said. Diwali is falling on 24th October this year.
The minister, who is leading the final round of India-UK FTA talks on the British side, explained that the intention is to reduce barriers to bilateral trade and balance each side’s different needs on product and market access.
“What we should not pretend is that we are doing absolute universal liberalization of everything that can possibly be done and creating a single market with India and freedom of movement etc. We are not doing that. There are … business deals with each one, give and take,” she said.
“We talk about free trade agreements, but they are not universal, one-way free trade. I think free trade is probably a more accurate way of describing what we are doing on all these bilateral deals. I am optimistic that we will get a good deal. But sometimes there are a lot of political things that need to be looked into in these times,” she said.
Badenoch, who was participating in a panel discussion at a party conference organized by a policy exchange think tank called “Trade and the Indo-Pacific”, has been in charge at the UK’s Department for International Trade (DIT) since early last month and says he Willing to move the discussion beyond trade deals to broader cooperation.
“I’m in no rush to sign trade deals. I want good deals with these countries. We need to make sure that every deal is great for the UK,” she said.
Using patent protection as an example, the minister said the UK needs to remember that India has different needs from other countries.
Eileen Keys, Head of International Public Policy DiegoThe panel marked India’s reduction of 150 per cent tariffs on Scotch whiskey as priority areas that would be a “real win” for both sides.
“It’s something we’ll get from having a great deal with India,” Badenoch agreed.
He is an Indian-origin entrepreneur, Lord. also agreed with Karan BillimoriaA comprehensive agreement with India should include security cooperation.
Business and Minister of Industry Piyush Goyal Last month, it was said that talks for a proposed free trade agreement between India and Britain are progressing at a brisk pace. The aim of the agreement is to promote bilateral trade and investment between the two countries.
India and the UK mostly trade in services which account for about 70 per cent of the total trade. The two countries also aim to increase their bilateral trade to $100 billion by the end of this decade.
Britain’s foreign minister for international trade, Kemi Badenoch, who is in charge of FTA negotiations under Prime liz truss led government, was addressing concerns about the country’s service sector’s access to the Indian market conservative Party Annual conference in Birmingham.
senior cupboard The minister also indicated that the Diwali timeline set by the former Prime Minister boris johnson was not “arbitrary” and aspects could be completed beyond that time limit.
“We want something comprehensive, but it has to be right for both countries,” Badenoch said.
“The prime minister has a deadline, which the previous prime minister had. That was a fairly long time frame, so it’s not arbitrary, it wasn’t set last week. But making a trade deal is not an easy thing to do. So, what we want to do is do something that elevates both countries. The service sector can’t have everything we want, we can’t get everything, we can’t do a one-sided, free-for-all deal. are,” she said.
“But just because we have a free trade agreement, doesn’t mean we can’t do more later,” she said. Diwali is falling on 24th October this year.
The minister, who is leading the final round of India-UK FTA talks on the British side, explained that the intention is to reduce barriers to bilateral trade and balance each side’s different needs on product and market access.
“What we should not pretend is that we are doing absolute universal liberalization of everything that can possibly be done and creating a single market with India and freedom of movement etc. We are not doing that. There are … business deals with each one, give and take,” she said.
“We talk about free trade agreements, but they are not universal, one-way free trade. I think free trade is probably a more accurate way of describing what we are doing on all these bilateral deals. I am optimistic that we will get a good deal. But sometimes there are a lot of political things that need to be looked into in these times,” she said.
Badenoch, who was participating in a panel discussion at a party conference organized by a policy exchange think tank called “Trade and the Indo-Pacific”, has been in charge at the UK’s Department for International Trade (DIT) since early last month and says he Willing to move the discussion beyond trade deals to broader cooperation.
“I’m in no rush to sign trade deals. I want good deals with these countries. We need to make sure that every deal is great for the UK,” she said.
Using patent protection as an example, the minister said the UK needs to remember that India has different needs from other countries.
Eileen Keys, Head of International Public Policy DiegoThe panel marked India’s reduction of 150 per cent tariffs on Scotch whiskey as priority areas that would be a “real win” for both sides.
“It’s something we’ll get from having a great deal with India,” Badenoch agreed.
He is an Indian-origin entrepreneur, Lord. also agreed with Karan BillimoriaA comprehensive agreement with India should include security cooperation.
Business and Minister of Industry Piyush Goyal Last month, it was said that talks for a proposed free trade agreement between India and Britain are progressing at a brisk pace. The aim of the agreement is to promote bilateral trade and investment between the two countries.
India and the UK mostly trade in services which account for about 70 per cent of the total trade. The two countries also aim to increase their bilateral trade to $100 billion by the end of this decade.