The interim agreement will include high-level commitments in goods, services, rules of origin, sanitary and phytosanitary measures…reports Asian Lite News
The free trade agreement (FTA) between India and Canada is likely to be finalised sooner than the one with the UK, media reported.
According to The New Indian Express, the interim agreement between India and Canada will bring early commercial gains, according to a top government official. Commerce Minister Piyush Goyal is in Canada to sign the deal, which includes high-level commitments in goods, services, and other areas mutually agreed upon.
The interim agreement will include high-level commitments in goods, services, rules of origin, sanitary and phytosanitary measures, technical barriers to trade, and dispute settlement, and may also cover any other areas mutually agreed upon, it was reported.
Meanwhile, talks with the UK have slowed down after the new government took over, with the next round of meetings scheduled for May-end or beginning of June. The UK is demanding duty concessions on Scotch whisky, electronic items, and automobiles, while the corporate sector wants progress on visa and mobility issues.
“Under the regime of Boris Johnson, the trade talks were at full swing. But after the Diwali deadline couldn’t be met, things seem to have slowed down. However, the negotiations will gain momentum going forward,” the report quoted the official as saying.