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 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
The UK froze ministerial-level dialogues, including the Joint Economic and Trade Commission (JETCO) meetings, over human rights and security concerns
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
India and Germany's bilateral trade was valued at $26 billion for the financial year that ended on March 31, 2024
Our national interest will always be paramount. We'll calibrate and balance our policies based on needs of the country, 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
Trade bloc to continue with tariff imposed on Indian steel since 2018
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 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 ...
Belarus was among the first group of countries that responded to China's Belt and Road Initiative
Talks in Ukraine to span wide range of issue, will focus on economic ties in Poland
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
Goyal was attending the G7 Trade Ministers' meeting in Italy to discuss ways to enhance global trade relations and economic cooperation
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
Turkey this month halted all bilateral trade with Israel until the war ends
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
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 ...
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
Advantages of India's FTA with ASEAN appear unclear and appear to make the country dependent on Chinese imports