Yashaswani Chauhan, Pune
The Business and Trade Secretary of the United Kingdom, Kemi Badenoch, has provided a significant update on the ongoing negotiations between India and the UK regarding a proposed free trade agreement (FTA). This update sheds light on the key developments and priorities in these crucial talks.
Active Discussions on Business Mobility
One of the pivotal aspects of the negotiations revolves around business mobility. Under the proposed FTA, India and the UK actively engage in discussions to facilitate the movement of professionals and skilled workers between the two nations for work-related purposes.
FTA Negotiations Reach Final Stages
The FTA negotiations have progressed substantially, with both parties now in the final stages of discussions. While no specific deadline has been disclosed, Badenoch expressed a strong sense of optimism regarding the potential outcome, emphasizing the mutual benefits both nations stand to gain.
Visa Liberalization and Immigration Clarified
Significantly ,Badenoch clarified that visa liberalization and immigration matters do not fall within the purview of trade agreements. These issues are the responsibility of the UK’s home office, which administers a points-based immigration system. However, within the context of trade, the concept of business mobility is a central topic of conversation.
Addressing Bilateral Investment Treaty
In addition to business mobility, the negotiations are also addressing concerns related to the bilateral investment treaty. The aim is to ensure that this treaty aligns with the interests and objectives of both India and the UK.
UK’s Commitment to the Deal
Badenoch underlined the UK government’s unwavering commitment to reaching an agreement with India. The UK views these negotiations with the utmost seriousness, highlighting the significance of the potential FTA for both nations.
Common Ground on WTO Reforms
Lastly, with respect to World Trade Organization (WTO) reforms, the UK and India find common ground. Both nations share similar ambitions, particularly in areas such as the dispute settlement mechanism, e-commerce, and enhancing supply chain resilience to bolster economic security.
In conclusion, the India-UK FTA negotiations are progressing positively, with a primary focus on business mobility and addressing concerns related to the bilateral investment treaty. This development holds significant promise for enhancing economic ties and cooperation between India and the UK.