Goyal May Visit London, Oslo & Brussels this Month for Trade Deals
In a move aimed at strengthening India’s trade and investment ties with the UK, Norway, and the European Union, Union Minister Piyush Goyal is likely to embark on a five-day visit to London, Oslo, and Brussels starting from April 28. This visit is seen as a significant step towards further boosting bilateral trade and investment relations between India and these countries.
According to an official, Goyal’s itinerary includes meetings with senior officials and business leaders in these cities to discuss ways to enhance trade and investment ties. The visit is expected to focus on areas such as trade facilitation, investment promotion, and cooperation in key sectors like energy, infrastructure, and technology.
Last year, the member states of the European Free Trade Association (EFTA) and India signed the Trade and Economic Partnership Agreement (TEPA), which has paved the way for increased trade and investment between the two regions. The agreement has removed tariffs on most goods traded between India and the EFTA countries, including Switzerland, Norway, Iceland, and Liechtenstein.
Goyal’s visit is seen as a follow-up to the TEPA agreement, with the aim of taking forward the momentum generated by the pact. The Union Minister is expected to hold meetings with senior officials from the UK, Norway, and the European Union to discuss ways to enhance trade and investment ties, as well as to identify new areas of cooperation.
The UK is one of India’s largest trading partners, with bilateral trade between the two countries valued at over $15 billion. Goyal’s visit to London is expected to focus on strengthening trade ties, particularly in sectors like finance, healthcare, and education. India is also looking to increase its investments in the UK, particularly in areas like clean energy and infrastructure.
Norway, on the other hand, is a significant player in the global energy sector, and Goyal’s visit to Oslo is expected to focus on cooperation in areas like renewable energy, oil and gas exploration, and infrastructure development. Norway is also a significant investor in India, with a significant presence in sectors like seafood processing, forestry products, and tourism.
The visit to Brussels is expected to focus on strengthening India’s trade ties with the European Union, which is one of India’s largest trading partners. The EU is a significant market for Indian goods, including textiles, pharmaceuticals, and IT products. Goyal’s visit is expected to focus on negotiations for a free trade agreement between India and the EU, as well as on ways to enhance cooperation in areas like climate change, sustainable development, and innovation.
In conclusion, Union Minister Piyush Goyal’s likely visit to London, Oslo, and Brussels is a significant development in India’s efforts to strengthen its trade and investment ties with the UK, Norway, and the European Union. The visit is expected to focus on areas such as trade facilitation, investment promotion, and cooperation in key sectors like energy, infrastructure, and technology. With the aim of further boosting bilateral trade and investment ties, Goyal’s visit is expected to generate significant momentum in the coming months.
