India-UK to launch Enhanced Trade Partnership this year

The two ministers carried out discussions on the entire range of bilateral trade and economic relations in a spirit of mutual understanding of each other’s priorities and trade sensitivities, said an India-UK joint statement released today. They also reviewed progress in removing market access barriers on both sides and ongoing cooperation in response to COVID-19.

Reiterating their commitment to long term India-UK partnership, both ministers agreed to deepen trade cooperation between the two countries through an ETP.

"Taking forward their commitment from the 14th JETCO on July 24, 2020, India and UK trade ministers reviewed the ongoing engagements between the two sides for an ETP, as part of the development of a roadmap that would lead to a potential comprehensive FTA, including considerations on an Interim Agreement on preferential basis," the joint statement said.

In order to formally launch the ETP during the visit of the UK PM to India, later this year, the ministers committed themselves to make concrete progress on trade and investment front to deliver quick gains for both countries including joint timelines for further advances, the statement added.

The ministers agreed to further accelerate the process towards launch of the ETP, and committed to interact on a regular basis, while identifying quick and concrete bilateral deliverables that could cement the ETP and immediately benefit the people of both countries.

Fibre2Fashion News Desk (RKS)