India Negotiating FTAs With EU, Oman, Chile, New Zealand
In August, the minister said, India and the Eurasian Economic Union (EAEU) comprising Armenia, Belarus, Kazakhstan, Kyrgyz Republic and Russia signed Terms of Reference (ToR) to launch negotiations on an FTA. “Talks are going with the US (for a trade agreement). Talks are also underway with the EU, New Zealand, Oman, Peru and Chile,” he said
New Delhi: Commerce and industry minister Piyush Goyal on Monday said that India is negotiating free trade agreements (FTAs) with several countries including the US, New Zealand, Oman, Peru, Chile, the European Union, Qatar and Bahrain. “I think Qatar and Bahrain too are keen to negotiate trade pacts with India soon,” the minister said at UP International Trade Show in Greater Noida.
In August, the minister said, India and the Eurasian Economic Union (EAEU) comprising Armenia, Belarus, Kazakhstan, Kyrgyz Republic and Russia signed Terms of Reference (ToR) to launch negotiations on an FTA. “Talks are going with the US (for a trade agreement). Talks are also underway with the EU, New Zealand, Oman, Peru and Chile,” he said.
Last week, the minister led an official delegation to New York for trade talks. After that meeting, India and the US decided to continue negotiations for early conclusion of a mutually beneficial bilateral trade agreement. Both sides held constructive meetings on various aspects of the trade deal. During the visit, the minister held meetings with United States Trade Representative (USTR) Jamieson Greer and US Ambassador-designate to India Sergio Gor.
These deliberations were important as they took place after the US imposed a 25 per cent reciprocal tariff and an additional 25 per cent penalty on Indian goods entering the American market for purchasing Russian crude oil. At present, a total 50 per cent additional import duty is imposed on Indian goods.
