New Delhi: Commerce and Industry Minister Piyush Goyal said Thursday that India and the US are in an ‘advance stage’ of dialogue to resolve some of the pressing trade issues.
The minister said that both the countries can expand their trade relations which in future may result in a preferential or a free trade agreement.
“With the US, we are in an advance stage of dialogue to sort out some of the pressing issues,” Goyal said.
The remarks assume significance as both the countries are negotiating a trade package to boost two-way commerce.
The minister said that both the nations are big trading partners and can further expand. “…I would believe that going forward both counties will like to further expand that engagement which could lead to PTA (preferential trade agreement) and FTA (free trade agreement) in the years ahead,” informed Goyal.
Talking about the stalled negotiations on the proposed free trade pact between India and the European Union, the minister said that countries like Germany and France are keen that both the regions should enter into a trade pact.
“…at least begin with a PTA and move towards an FTA. I am looking forward for my engagement with EU trade commission,” said Goyal. “We are very keen to pursue the dialogue further. Earlier the dialogue was stalled largely on wines, spirits and automobiles. I think those are not as contentious issues today,” he said.
A proposed free-trade pact has been stalled since May 2013 between India and the EU as both sides failed to iron out differences of several issues.
IANS
