• Source:JND
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Union Commerce and Industry Minister Piyush Goyal on Thursday announced that India will sign a trade agreement with New Zealand in April, further strengthening bilateral ties. Meanwhile, the trade agreements already concluded with the United Kingdom and Oman are set to be operationalised within the next two months.

Goyal held bilateral talks with over a dozen countries on the sidelines of the World Trade Organisation (WTO) meeting in Cameroon, which took place from March 26 to 29, Jagran.com reported.

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India-UK Trade Agreement

Goyal said that India's trade agreement with the United Kingdom is likely to be operationalised within 30-45 days. "The UK is pleased at the speed with which the FTA with India passed by both houses of their parliament in record time," he added.

Trade Agreement With New Zealand

The Union Minister further said that a trade agreement with New Zealand has already been agreed upon, and the two countries will sign it this month. India's trade agreement with Oman is likely to be operationalised in May.

Piyush Goyal On India-US Trade Agreement

Goyal further stated that India would consider signing a trade agreement with the United States only if it secures a competitive advantage over other countries in the US market. Currently, the United States imposes a 10 per cent tariff on all countries. India expects to enter a trade agreement only if its tariffs are lower than those on countries such as China, Vietnam, Indonesia, and Bangladesh, the report added.

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Government To Provide Relief To Exporters And Manufacturers

Goyal stated that the government may provide further relief to exporters and manufacturers affected by the West Asia crisis. In response to the ongoing conflict in the Middle East, the government is continuously monitoring the situation and is active on all fronts. Recently, it provided relief on exporters' insurance premiums and has now removed import duties on several goods.

(With Jagran.com Inputs)


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