Political developments in Britain | No indication about its effect on India-U.K. FTA talks, says Piyush Goyal
The Hindu
In January, both countries formally launched talks for a free trade agreement to boost bilateral trade and investments.
There are no indications about the effect of the recent political developments in Britain on the ongoing negotiations for a proposed free trade agreement between the two countries, Commerce and Industry Minister Piyush Goyal has said.
On July 7, British Prime Minister Boris Johnson announced his resignation as Conservative Party leader following an unprecedented mutiny from within his Cabinet and after being abandoned by his close allies in the wake of a series of scandals that rocked his government, triggering a leadership election for a new Tory leader who will go on to become his successor.
In January, both countries formally launched talks for a free trade agreement to boost bilateral trade and investments.
In such pacts, two countries either eliminate or significantly reduce customs duties on the maximum number of goods traded between them besides easing norms for promoting investments and services trade.
"It [political developments in the U. K.] has happened very recently, and we have not received any indications of that sort. But since the Conservative Party is still going to be in the government and normally in relation to international engagements, government's have continuity. So, I do not see any immediate problem and I have not heard of any reason, which may affect the strong bilateral partnership between India and UK," Mr. Goyal told PTI.
He was replying to a question about whether the resignation of the U.K.'s Prime Minister is going to affect the ongoing negotiations for the India-U.K. trade deal. The talks are at an advanced stage, and both sides have agreed on many chapters of the proposed pact.