As part of the Enhanced Trade Partnership (ETP), India and the UK agreed on a roadmap to negotiate a comprehensive and balanced Free Trade Agreement
Prime Minister Narendra Modi on Tuesday held a virtual summit with his British counterpart Boris Johnson, in which an ambitious 'Roadmap 2030' was adopted to elevate the bilateral ties to a ‘Comprehensive Strategic Partnership’.
The Roadmap will pave the way for a deeper and stronger engagement over the next ten years in the key areas of people to people contacts, trade and economy, defence and security, climate action and health, the two PMs said on Tuesday.
"The Roadmap will guide cooperation for the next ten years covering all aspects of our multi-faceted relations," the press release noted.
During the summit, the two Prime Ministers launched an ‘Enhanced Trade Partnership’ (ETP) to unleash the trade potential between the two nations and by setting an ambitious target of more than doubling bilateral trade by 2030.
We welcomed launch of an Enhanced Trade Partnership as a roadmap to a comprehensive FTA, with a target to more than double the bilateral trade by 2030. We also agreed upon several new initiatives in health, technology, energy, etc.
As part of the ETP, India and the UK agreed on a roadmap to negotiate a comprehensive and balanced Free Trade Agreement (FTA), including consideration of an Interim Trade Agreement for delivering early gains.
Furthermore, a new India-UK ‘Global Innovation Partnership’ was announced at that aims to support the transfer of inclusive Indian innovations to select developing countries, starting with Africa.
Both sides agreed to enhance cooperation on new and emerging technologies, including Digital and ICT products, and work on supply chain resilience. They also agreed to strengthen defence and security ties, including in the maritime, counter-terrorism and cyberspace domains.
PM Modi and PM Johnson also exchanged views on regional and global issues of mutual interest, including cooperation in the Indo-Pacific, and G7. They reiterated commitment to climate action to achieve the goals of the Paris Agreement and agreed to closely engage in the run up to CoP26 hosted by the UK later this year.
We discussed ongoing cooperation on COVID-19 pandemic and reiterated commitment to ambitious climate action to meet Paris goals in the run-up to COP26.