India, UK to Hold Next Round of Talks for Free Trade Agreement Soon
GG News Bureau
New Delhi, 15th Nov. The next round of talks for a free trade agreement between India and the UK is expected to take place soon. The chief negotiators from both countries will discuss various issues, including automobiles, medical devices, and the movement of professionals.
It is anticipated that the UK team will visit India for the 14th round of negotiations in order to reach an agreement as soon as possible.
While virtual sessions have been ongoing, a full-fledged round of talks is being planned.
During this round, both sides will discuss all the chapters, with multiple sessions taking place simultaneously.
Several issues need to be resolved, such as rules of origin, intellectual property rights, social security agreements, duty concessions on electric vehicles, scotch whiskey, lamb meat, chocolates, and certain confectionery items, as well as the liberalization of norms in banking and insurance.
Additionally, discussions are progressing on a proposed bilateral investment treaty (BIT) between India and the UK. BITs are agreements that promote and protect investments in each other’s countries.
The main point of contention in this particular agreement is the mechanism for settling disputes.
India has proposed utilizing local judicial remedies before resorting to international arbitration for dispute settlement.
The trade talks between the two nations began in January 2022, with the goal of concluding the negotiations by Diwali on October 24, 2022.
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