Page 10 - Trade Talks

Improving connectivity to boost India-New Zealand trade ties: GTRI

India and New Zealand should address market access issues for goods, promote collaborations in key sectors, and work on improving connectivity with an aim to boost bilateral trade, which is just USD 1.5 billion, think tank GTRI said on Sunday. Both countries should set a target to double two-way trade within five years by identifying products for early tariff relief and organizing business delegations and roadshows in India, it said. It also said that India's proposed free trade agreement with New Zealand would have limited benefit to domestic companies as they are already enjoying duty free access to a significant number of goods in that market. New Zealand's average import tariff is just 2.3 per cent, compared to India's 17.8 per cent. Besides, 58.3 per cent of New Zealand's tariff lines (or product categories) are duty-free, meaning Indian products already enjoy significant access without a trade pact in the New Zealand market, the Global Trade Research Initiative (GTRI) said.

Rising Rajasthan Summit: Trade body seeks migrant support for investments

Memorandum of understanding (MoUs) worth Rs 35 trillion, the highest in the state's history, were signed during the three-day summit held in Jaipur from December 9-11

EU deal and Donald Trump tariff threats bolster Mercosur trade talks

Topping the list of Mercosur's most likely new trade pacts next year are deals with the European Free Trade Association of four non-EU nations

India replaces Italy to bag 10th spot in US trade deficit rankings in 2024

The Trump administration has earmarked clearly three areas on the basis of which it will determine trade negotiations. One clearly is to look at ways to reducing its trade deficit with some countries

Avoid protectionism that hinders trade: Commerce Secretary Sunil Barthwal

He called for mutual recognition agreements (MRAs) to facilitate trade

First trade agreement under US-Taiwan initiative officially takes effect

The deal includes key commitments aimed at enhancing cooperation in areas such as domestic service industries and the promotion of small and medium-sized enterprises

WTO: India for 'per capita distribution of subsidies' criteria for fishers

India also flagged the difference in the amount of subsidy provided by developing nations such as India, as compared to developed nations

Russia's first deputy PM Manturov calls on Modi; discusses trade, energy

Russia's First Deputy Prime Minister Denis Manturov called on Prime Minister Narendra Modi on Monday and the two leaders exchanged views on enhancing cooperation in various areas, such as trade and economic ties, energy and connectivity. PM Modi welcomed the sustained and joint efforts being made by the teams on both sides for the implementation of decisions taken during his recent visits and meetings with Russian President Vladimir Putin to further strengthen the India-Russia Special and Privileged Strategic Partnership, a statement issued by the Prime Minister's Office (PMO) said. They exchanged views on enhancing cooperation in various areas, including trade and economic ties, energy and connectivity, it said. PM Modi extended his warm greetings to President Putin and said that he looked forward to continued exchanges with him, according to the statement. In a post on X after the meeting with Manturov, Modi said, "Glad to meet Russia's First Deputy PM Denis Manturov today. Happy

UK may revive China trade talks. What caused the years-long freeze?

The UK froze ministerial-level dialogues, including the Joint Economic and Trade Commission (JETCO) meetings, over human rights and security concerns

Govt keen to strengthen CECA services pact with Australia to boost exports

India is looking at further strengthening the pact on services with Australia in the proposed compressive economic cooperation trade agreement (CECA) to boost the sector's exports, an official said on Thursday. The two countries have already implemented an interim trade agreement in goods and services in December 2022 and are now under negotiations to expand its scope through CECA. The next round of talks is expected in December here. "One of the areas of interest for India is to strengthen our agreement on the services side because our services exports are doing good. So whatever we feel can be done more where India can actually improve our exports, we are looking at those areas and trying to see what else can be done," the official said. The estimated value of service exports during April-September 2024 is USD 180 billion as compared to USD 163.92 billion in April-September 2023. In 2023-24, it was over USD 340 billion. India is also interested in government procurement, but the

Chancellor Scholz turns to India as Germany looks to diversify beyond China

India and Germany's bilateral trade was valued at $26 billion for the financial year that ended on March 31, 2024

India will take a multi-pronged approach to boost exports: Piyush Goyal

Our national interest will always be paramount. We'll calibrate and balance our policies based on needs of the country, says Piyush Goyal

May retaliate if Asean non-trade barriers persist, says Piyush Goyal

As for the fast-growing quick commerce segment, Goyal said that while the government had not studied potential violations, the industry department would examine their compliance with the law

Centre starts talks for retaliatory measures against EU steel tariff

Trade bloc to continue with tariff imposed on Indian steel since 2018

India, EU to begin next round of talks on free trade pact on Monday

Senior officials of India and the 27-nation European Union (EU) will commence the next round of talks for a proposed free trade agreement from Monday here, an official said. The agreement is aimed at further boosting bilateral trade and investments between the two regions. The two sides are negotiating a free trade agreement, an investment protection agreement and an agreement on geographical indications (GIs). "The five-day talks will start from September 23. It will be the ninth round of negotiations. Also, the concerns of Indian stakeholders regarding the EU's sustainability measures, such as CBAM, deforestation and others, will be discussed with the EU," the official said. During the ninth round, both sides will discuss core trade issues covering goods, services, investment and government procurement along with necessary rules such as rules of origin, SPS (sanitary and phytosanitary), and technical barriers to trade. The Carbon Border Adjustment Mechanism (CBAM) or carbon tax (

India, Korea discuss upgrading of trade pact, promoting investments

India and Korea on Saturday held discussions on upgrading the existing free trade agreement, balancing two-way commerce and promoting investments between the two countries. The issues were discussed during a meeting between Commerce and Industry Minister Piyush Goyal and his Korean counterpart Inkyo Cheong at Vientiane, Laos. "Deliberations were held on achieving more balanced trade, upgrading the India-Korea Comprehensive Economic Partnership Agreement (CEPA), promoting investments linked to job creation and addressing non-tariff barriers to further strengthen our economic ties," Goyal said in a post on social media platform X. The two countries are holding review meetings to upgrade the CEPA, which was operationalised in January 2010. So far, over 10 rounds of review talks have been held. The two countries have sought greater market access for certain products that are under the negative list of the agreement. No customs duty concessions are granted for the goods under this ...

China, Belarus agree to strengthen bilateral cooperation in trade, security

Belarus was among the first group of countries that responded to China's Belt and Road Initiative

Modi's 3-day diplomatic blitz: Talks with leaders in Warsaw, Kyiv planned

Talks in Ukraine to span wide range of issue, will focus on economic ties in Poland

Russia-China first bilateral barter trade anticipated to come this autumn

Barter trading would allow Moscow and Beijing to circumvent payment issues, reduce the visibility Western regulators have over their bilateral transactions, and limit currency risk

G7 trade ministers' meet: Union min Goyal discusses FTA with UK, EU

Goyal was attending the G7 Trade Ministers' meeting in Italy to discuss ways to enhance global trade relations and economic cooperation