|
|
India-UK trade can be formalised after Brexit: Sitharaman
|
|
|
|
Top Stories |
|
|
|
|
SME Times News Bureau | 30 Aug, 2016
India and the UK on Monday discussed ways to boost bilateral trade in a
new scenario following Britain's decision to leave the European Union
(EU).
Talks were held here between Commerce Minister Nirmala
Sitharaman and the UK's Secretary of State for International Trade Liam
Fox, following which Sitharaman briefed mediapersons.
"UK is very
keen on deepening our trade relationship, but formal talks can only
start after they complete the process of exiting from the EU," she said.
She
said that both countries have decided to set up a joint working group
which can go into the details of "what is the kind of economic and
commercial relationship which can be built".
To a question about the possibility of a bilateral free trade agreement, the minister said there is a possibility of an FTA.
"But obviously, UK is still a part of the EU. Only when they come out can formal talks on such matters begin."
There
is an India-UK Joint Economic and Trade Committee (JETCO) meeting which
is also expected to take place before the end of 2016, Sitharaman said.
Following
the Brexit -- Britain's exit from EU -- vote in June, the British
Business Secretary Sajid Javid had met Sitharaman here in July.
Bilateral trade between the countries stood at $14 billion in 2015-16, as compared to $14.33 billion in 2014-15.
|
|
|
|
|
|
|
|
|
|
|
|
|
Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
|
66.20
|
64.50 |
UK Pound
|
87.50
|
84.65 |
Euro
|
78.25
|
75.65 |
Japanese
Yen |
58.85 |
56.85 |
As on 13 Aug, 2022 |
|
|
Daily Poll |
|
|
PM Modi's recent US visit to redefine India-US bilateral relations |
|
|
|
|
|
Commented Stories |
|
|
|
|
|
|
|
|