Page 11 - Trade Talks

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

China's Li visits NZ, where security fears vie with trade hopes on agenda

China's Premier Li Qiang arrived in New Zealand on Thursday, beginning a rare visit to its closest partner among Western democracies, where a celebration of trade links is expected to vie with concerns about South Pacific security on Wellington's agenda. China's No. 2 official, Li is the first Chinese premier to visit New Zealand since a 2017 visit by Li Keqiang. He will also visit Australia and Malaysia, China's Foreign Ministry said this week. The trip coincides with easing tensions between Australia and China that have vexed the relationship in recent years. New Zealand's Prime Minister Christopher Luxon is expected to salute trade links with China in public statements this week. China is the South Pacific nation's largest trading partner, with two-way trade worth 36 billion New Zealand dollars (USD 22 billion). They signed a bilateral free trade agreement in 2008 China's first with an Organisation for Cooperation and Development nation and the visit marks the 10th anniversary o

Israeli-Turkish trade on life support as relations strained over Gaza war

Turkey this month halted all bilateral trade with Israel until the war ends

India-EU FTA: Will the marriage reconcile?

While realpolitik is not expected to result in a favourable trade agreement between India and EU, the partners would do best in settling for a more realistic agenda with some compromise from both side

US and China spar with warnings about misunderstandings and miscalculations

The United States and China butted heads over a number of contentious bilateral, regional and global issues as U.S. Secretary of State Antony Blinken met Friday with senior Chinese officials and warned of the dangers of misunderstandings and miscalculations. Blinken's discussions started with Chinese Foreign Minister Wang Yi and then Public Security Minister Wang Xiaohong, who said Blinken would also see President Xi Jinping a meeting that had been expected but not previously announced by either said. A State Department official confirmed that Blinken would meet the president before leaving the country late Friday. Talks between the two sides have increased in recent months, even as differences have grown. Blinken and Wang underscored the importance of keeping lines of communication open, but they also lamented that divisions were becoming more serious in nature. They each underscored the importance of keeping lines of communication open but they also lamented persistent and ...

Business leaders urge Pak PM Shehbaz to initiate trade talks with India

Pakistan business leaders in an interactive session with Prime Minister Shehbaz Sharif urged him to initiate trade talks with India to promote business and commerce which would greatly benefit the economy of the cash-strapped country. Posing tough questions during an hour-long meeting at the Sindh CM House here in Pakistan's commercial capital on Wednesday, Karachi's business community appreciated the prime minister's determination to tackle economic issues but advised him to focus on bringing about political stability to turn around the economy. The Prime Minister sat down with the business community to find ways to uplift the economy through exports but his resolve was met with apprehensions from industry leaders who said it was almost impossible to do business under the current circumstances, particularly with high energy costs and inconsistent government policies, the Dawn newspaper reported. After the prime minister's brief speech, the house was opened for a question and answer

In the economic transformation of Southeast Asia, a tale of two FTAs

Advantages of India's FTA with ASEAN appear unclear and appear to make the country dependent on Chinese imports

Next round of talks on proposed India-Peru trade agreement likely in Jun

The chief negotiators of India and South American nation Peru are likely to hold the next rounds of talks for a proposed free trade agreement in June, an official statement said on Thursday. So far, seven rounds of talks have been completed. "The next round, expected in June 2024, will be preceded by intersessional negotiations over VC (video conference) to ensure that outstanding issues are resolved before the two parties meet again," the commerce ministry said. The seventh round of talks involved understanding priorities and mutual concerns and ensuring that the negotiations are rooted in mutual respect and benefit, it added. Commerce Secretary Sunil Barthwal said the basic principle of negotiations should be understanding strengths and respecting sensitivities of each other. The modalities of negotiation may emerge from appropriate stakeholder consultations, and feedback from the industry and the negotiating teams should engage in a gainful and explorative approach, he said. R

Global merchandise trade growth in volume terms may dip 1.2% in 2024: GTRI

The growth in the global merchandise trade is likely to decline by 1.2 per cent, in value terms, due to the ongoing geopolitical uncertainties, economic think tank Global Trade Research Initiative (GTRI) said on Thursday. The US dollar value of world merchandise trade fell 5 per cent in 2023 to USD 24.01 trillion, but this decline was mostly offset by a strong increase in commercial services trade, which rose 9 per cent to USD 7.54 trillion, it said. This allowed world goods and commercial services exports on a balance of payments basis to slip 2 per cent in 2023 to USD 30.8 trillion. "Despite the World Trade Organization (WTO) expecting a 2.6 per cent rise in trade volume for 2024, the value of world merchandise trade is still seen to decline by 1.2 per cent in 2024 from 2023, continuing the trend of trade values falling behind the trade volumes," the think tank said. The WTO has projected that the world merchandise trade volume will grow by 2.6 per cent in 2024 and 3.3 per cent i

US govt to consider concerns about China's Brite in trade sanction list

The concerns were raised in a letter calling on the agency to sanction the company after Reuters reported in December that it was part-owned by blacklisted Chinese chipmaker SMIC

US-China relationship on 'more stable footing' but more can be done: Yellen

US Treasury Secretary Janet Yellen met Sunday with Chinese Premier Li Qiang in Beijing and sent a message of mutual cooperation despite the nations' differences. Yellen came to China top of mind with trade practices that put American companies and workers at an unfair competitive disadvantage. In the ornate Fujian room of Great Hall of People building just west of Tiananmen Square, she told Li: While we have more to do, I believe that, over the past year, we have put our bilateral relationship on more stable footing." This has not meant ignoring our differences or avoiding tough conversations," she said. "It has meant understanding that we can only make progress if we directly and openly communicate with one another. Li said media interest in Yellen's visit "shows the high expectation they have ... and also the expectation and hope to grow" the US-China relationship. The meeting comes after the US and China on Saturday agreed to hold intensive exchanges on more balanced economic

Janet Yellen meets China's foreign business leaders ahead of trade talks

The Treasury is not expecting a major shift in Chinese policy as a result of meetings, but it was important to explain the problems that overinvestment in these sectors are causing around the world