(MENAFN- Trend News Agency)
India and the UK are committed to delivering a comprehensive and
balanced free trade agreement (FTA) by the end of this year along
with an interim deal for early gains, Foreign Secretary Harsh
Vardhan Shringla said on Wednesday, Trend reports citing India Today .
Addressing the First India-UK Strategic Futures Forum, Shringla
said the Roadmap 2030 launched by both countries details
comprehensive plans for the relationship over the next 10 years and
also serves as a useful instrument to actively monitor and pursue
agreed priorities.
'The potential for a transformative change is most evident in
our economic relationship. India and the UK are the 5th and 6th
largest economies in the world that enjoy huge complementarities
and offer tremendous opportunities for growth on both sides,'
Shringla said.
A major step in this direction was taken last year when Prime
Minister Narendra Modi and his British counterpart Boris Johnson
launched the India-UK Enhanced Trade Partnership that aims to more
than double bilateral trade by 2030.
'Bilateral trade negotiations that began early this year have
been put on a fast track. Two rounds have already taken place with
the last round in mid-March witnessing good progress. Both sides
are committed to delivering a comprehensive and balanced FTA by the
end of this year along with an interim deal for early gains,'
Shringla said.
Noting that defence and security is another key element of the
India-UK renewed partnership, Shringla said the focus is on
research and innovation and joint industrial cooperation to develop
advanced defence capabilities and strengthen collaboration in
tackling new threats in the cyber, space, counter-terrorism and
maritime domains.
'We are keen to overcome legacy issues and engage in a robust
dialogue to promote greater alignment on defence and strategic
issues, including in the context of the Indo-Pacific,' he said.
India welcomes the UK's Indo-Pacific strategy and its desire to
deepen engagement in the region as reflected in the deployment of
the Carrier Strike Group to the Indo-Pacific last year, he
said.
This interest of the UK has the potential to contribute to
regional stability and support shared prosperity, he added.
'Our interests are also aligned in securing trusted and
resilient supply chains for strategic technologies like 5G,'
Shringla said.
He noted that as the world faced a pandemic of unprecedented
proportions, India and the UK joined hands in bringing in
game-changing solutions.
A notable success was the collaboration between Oxford Astra
Zeneca and the Serum Institute of India, he said.
'We are partners in the Coalition for Epidemic Preparedness
Initiative (CEPI) that has an ambitious 100-day plan to develop
vaccines to deal with future pandemics and strengthen global
preparedness,' Shringla said.
In today's highly charged international security situation,
India and the UK have worked closely in the UN Security Council to
address global challenges that threaten international peace and
security, he said.
'We also work together on other areas of interest in the
multilateral arena, including sustainable development, protecting
the environment, blue economy and maritime security, health etc.,'
he said.
This mutual cooperation defines our modern partnership and has
allowed India and the UK to take leadership in tackling global
challenges in areas like climate change, clean energy and global
health, Shringla said.
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