Overview
- Commerce Minister Piyush Goyal said India is negotiating free trade agreements with the European Union, the United States, New Zealand, Oman, Chile and Peru at the CII Partnership Summit in Visakhapatnam.
- He said the objective is to lower barriers to enable freer movement of goods, services and capital, while urging two-way investment, technology cooperation and a predictable policy framework.
- The Centre highlighted domestic facilitation measures, citing the removal of 42,000 compliances and the abolition of about 1,500 outdated laws to improve ease of doing business.
- The India Trade Promotion Organisation offered to partner with Andhra Pradesh on an Andhra Mandapam convention centre modeled on New Delhi’s Bharat Mandapam, and Chief Minister N. Chandrababu Naidu pledged land for the project.
- India continues to implement FTAs with the UAE, Australia and EFTA, and Minister of State Jitin Prasada expressed confidence that agreements with the EU, New Zealand and Oman could be concluded soon.