India-UK trade agreement likely to be implemented in 30-45 days: Piyush Goyal
Was addressing a press conference on the outcomes of the 14th Ministerial Conference of the WTO held in Yaoundé, Cameroon
Union Minister for Commerce and Industry Piyush Goyal on Thursday said the UK has expressed satisfaction over what he described as the fastest-ever FTA agreement with India.
Addressing a press conference on the outcomes of the 14th Ministerial Conference of the World Trade Organisation (WTO) held in Yaoundé, Cameroon, Goyal said the UK is happy that the India-UK Free Trade Agreement passed both Houses of parliament. "The two sides are aiming for operationalisation soon. We are aiming to implement the trade deal with the UK over the next 30-45 days."
The minister said he highlighted India's active role in the intense deliberations on WTO reforms while safeguarding the interests of our citizens, especially farmers and fishermen. Also, he emphasised on how India reiterated its strong commitment to ensuring a fair, transparent and rules-based multilateral trading system.
On trade with Canada, Goyal said India is planning to have a joint session to expand trade and commerce with Canada, as we discussed fast tracking India-Canada FTA. "The ministry is working to explore the prospects. We will send a business delegation to Canada and aim to bring more investments to India in the field of trade and business expansion."
With regard to the trade pact with Oman, the commerce minister highlighted that India is working towards bringing FTA into effect from May 1, indicating a significant step towards expanding India’s trade in West Asia.
Meanwhile, the agreement with New Zealand is expected to be signed in the last week of April, he added.
On the impact of the Iran war, Goyal noted that everyone has expressed concern, as it is hurting the global economy, especially innocent lives, adding that India’s stand has been appreciated by all.
"India remains resilient on food security, with energy supplies stable and no shortage of gas. New shipments are arriving, ensuring pipeline security in the future amid the West Asia conflict," added Goyal.
