Goyal May Visit London, Oslo & Brussels this Month for Trade Deals
Union Minister Piyush Goyal’s upcoming visits to London, Oslo, and Brussels are expected to kick off on April 28, an official has confirmed. The five-day trip is aimed at further strengthening India’s trade and investment ties with the United Kingdom, Norway, and the European Union. This development comes on the heels of the historic Trade and Economic Partnership Agreement (TEPA) signed between India and the member states of the European Free Trade Association (EFTA) last year.
Goyal’s visit to these cities is seen as a significant step towards deepening economic cooperation between India and these nations. The Union Minister is expected to hold talks with his counterparts and other senior officials in these countries to discuss ways to boost bilateral trade and investment. The visits are also expected to focus on exploring new areas of cooperation, such as technology, innovation, and sustainable development.
The UK is one of India’s largest trading partners, and the two nations have been working towards a comprehensive free trade agreement (FTA) for several years. The UK’s exit from the European Union (Brexit) has created new opportunities for India to strengthen its trade ties with the country. Goyal’s visit to London is expected to be an important step towards finalizing the terms of the proposed FTA.
Norway, on the other hand, has been a key player in India’s ties with the EFTA. The country has been a strong supporter of India’s bid to become a member of the EFTA, and Goyal’s visit is expected to build on the momentum generated by last year’s TEPA signing. Norway is also a significant investor in India, and the two nations have been working together on a range of sectors, including oil and gas, renewable energy, and infrastructure.
The visit to Brussels will focus on strengthening India’s ties with the European Union. The EU is one of India’s largest trading partners, and the two nations have been working together on a range of trade and economic issues. Goyal’s visit will provide an opportunity to discuss the progress of the ongoing negotiations on a comprehensive trade agreement between India and the EU.
The TEPA signed last year with the EFTA member states has been seen as a major achievement for India’s trade diplomacy. The agreement has eliminated tariffs on a range of goods and services, including textiles, pharmaceuticals, and IT products. The agreement has also set the stage for increased investment flows between India and the EFTA countries.
Goyal’s visit to these cities is also expected to focus on exploring new areas of cooperation, such as technology and innovation. The Indian government has been working towards creating a more business-friendly environment, and the visits are expected to provide opportunities for Indian businesses to explore new partnerships and collaborations with their European counterparts.
In recent years, India has been building its presence in the European market, and the visits are expected to further strengthen this momentum. The country has been diversifying its trade and investment relationships, and the visits will provide an opportunity to explore new markets and opportunities.
In conclusion, Union Minister Piyush Goyal’s upcoming visits to London, Oslo, and Brussels are expected to be a significant step towards deepening India’s trade and investment ties with the UK, Norway, and the European Union. The visits are expected to focus on strengthening bilateral trade and investment relationships, exploring new areas of cooperation, and building on the momentum generated by last year’s TEPA signing.
