UK and EU Announce Trade Talks With India
Following meetings with various European leaders, Indian Minister for Commerce and Industry Piyush Goyal announced high-level India-U.K. and India-EU dialogues on trade and investment. In a joint U.K.-India statement Feb. 8, Goyal and Britain's Trade Secretary Liz Truss announced the launch of an Enhanced Trade Partnership between the two countries. The two met Feb. 6. The move formalizes a deal announced July 24 at the 14th meeting of the India-U.K. Joint Economic and Trade Committee, at which the respective ministers agreed on a road map on trade that would lead to a free trade agreement. The Feb. 8 announcement will serve as a springboard to future negotiations.
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In a Feb. 6 news release, the EU also announced the launch of new trade and investment negotiations. It said EU-India bilateral discussions on Feb. 5 will lead into the upcoming EU-India Leaders' Meeting. Similar to the U.K.-India discussions, both parties discussed COVID-19 vaccine distribution and committed to further talks on a comprehensive trade deal. Goyal and EU Trade Commissioner Valdis Dombrovskis also discussed market access issues, the review of the Generalised Scheme of Preferences, and work on the EU Carbon Border Adjustment Mechanism under the European Green Deal.