The first round of negotiations for an India-UK free trade agreement (FTA), formally launched on January 13, concluded after two weeks on Friday covering 26 areas such as trade in goods and services, investment, intellectual property, barriers to trade, small and medium enterprises, geographical indicators and digital.
“Both sides acknowledge the importance of ensuring this first round – held virtually over 2 weeks - could proceed despite the challenges presented by the Covid pandemic,” commerce ministry said in a statement.
The second round of negotiations is due to take place on March 7-18 March.
“Both teams maintain a shared ambition to conclude negotiations by the end of 2022,” it said, adding that the two parties are making efforts to secure a comprehensive agreement even as chief negotiators would continue to consider the benefits of an interim agreement.
{{/usCountry}}“Both teams maintain a shared ambition to conclude negotiations by the end of 2022,” it said, adding that the two parties are making efforts to secure a comprehensive agreement even as chief negotiators would continue to consider the benefits of an interim agreement.
{{/usCountry}}India and the UK target doubling bilateral trade in goods and services to about $100 billion by 2030.