EmerioBanque

“Great Opportunity” This Year Rishi Sunak, UK PM Optimistic About Signing FTA With India

Rishi Sunak, the prime minister of the UK, expressed an important sign of reaching a trade agreement this year, highlighting substantial advancements made between India & the United Kingdom. The aforementioned statements were made during the G20 Summit held in Delhi on Friday.

In an interview with ANI, Rishi Sunak expressed his enthusiasm for the establishment of a broad and ambitious trade agreement between India and the United Kingdom, emphasizing the shared interest of both Prime Minister Narendra Modi and himself. Both parties involved share the belief that there is a significant amount of work to be accomplished.

According to Bloomberg reports, quoting ANI, the British prime minister emphasized the existence of ongoing efforts and the necessity for a deal that is mutually beneficial for both nations. 

The Prime Minister of the United Kingdom expressed the belief that there exists a significant potential for enhancing economic collaboration between India and the UK, thereby yielding tangible advantages for the respective populations of both nations. 

Related Read : Alliance I2U2: Pioneering partnerships with innovations and development in food security

The progress in various domains of bilateral cooperation, as outlined in the India-UK Complete Strategic Partnership and Roadmap 2030, was acknowledged by the two leaders, namely Prime Minister Modi and Rishi Sunak. Specifically, advancements were noted in the fields of economy, security and defence, technology, sustainable development and environmental issues, health, and accessibility sectors. 

According to the Department of External Affairs, both presidents engaged in a discussion regarding international and regional matters that hold significance and are of mutual interest. 

Recommended Read: Tayyip Erdogan says India is a Great trade partner - Subsequent to G20 summit

The status of discussions for the Free Trade Agreement was also assessed, with an expressed optimism that the outstanding matters can be promptly resolved. The aim is to achieve a Free Trade Agreement that is equitable, advantageous to all parties involved, and oriented towards future prospects. This information was conveyed in the statement. 

In August, Nirmala Sitharaman, the finance minister, suggested that India was nearing a decision regarding the signing of a Free Trade Agreement (FTA) with the United Kingdom. Negotiations have been under progress since the year 2021, encompassing a total of 13 rounds of discussions thus far. The total value of bilateral commerce between the two nations reached USD 20.36 billion during the fiscal year 2022-23.

Related Read: A Game changing investment - G20 Summit: Joe Biden on the India-Middle & the East-Europe Corridor

Prime Minister Modi extended an invitation to Prime Minister Sunak for a personal visit, to be scheduled at an early and mutually convenient date, with the aim of facilitating a more comprehensive and in-depth discussion. Prime Minister Sunak graciously accepted the offer and sent his congratulations to Prime Minister Modi on the successful conclusion of the G20 Summit, as stated in the press release. 





Other news

Exchange Rates

Currency Buy Sell
EUR USD 1.06 1.10
EUR GBP 0.86 0.89
EUR CHF 1.02 1.06
EUR AUD 1.72 1.70
EUR JPY 116.08 116.56
EUR MYR 4.50 4.77
EUR SGD 1.53 1.57
EUR HKD 8.27 8.53
EUR CAD 1.54 53.84
EUR DKK 9.75 1.55

Most Recent Blogs View All Blogs

08 Feb

Blockchain's Impact on Trade Finance: Shaping Global Commerce

Trade financing facilitates global commerce but involves antiquated systems reliant on manual paperw...

06 Feb

India's Trade Dynamics Amidst the Red Sea Crisis

As of now, there has been no significant impact on India's exports and imports owing to the crisis i...

31 Jan

Choosing the Right Trade Finance Instrument for Your Business

Understanding Trade FinanceTrade finance facilitates transactions and lowers risks for buyers and se...

Disclaimer

Emerio Banque is an innovative global financial institution incorporated in England and Wales with Legal Entity Identifier 875500DGPPWAFABBK130. Emerio Banque does not offer its products and services to businesses and/or persons registered in the United Kingdom.

No information on this website should be construed as a solicitation, offer, recommendation, and representation of suitability or endorsement of any security, investment or strategy.

Important Notice

Emerio Banque would like to advise its customers to report any suspicions which they may have regarding the identity of any intermediary who promotes products or services offered by us or any intermediary bearing similar names. You should verify with Emerio Banque by calling our Customer Service Number on +44 203 059 7831 or emailing help@emeriobanque.com

Please also be aware of bogus SMS messages and voice message calls or fraudsters who impersonate the staff of Emerio Banque.

We have recently become aware of a number of entities with different names misrepresenting themselves as associates, partners or agents of Emerio Banque.

Please be informed that Emerio Banque is not associated with nor do we have any business connections or dealings with such institutions.

Emerio Banque takes all information regarding suspicious fraudulent activity very seriously. Please immediately inform us at compliance@emeriobanque.com if you suspect or are approached by persons misrepresenting or impersonating Emerio Banque and/or its officials. We will make investigations and will take legal action where necessary.