New Delhi, July 4 (IANS). Union Commerce and Industry Minister Piyush Goyal, Foreign Minister S. Jaishankar and Minister of Railways, Information & Broadcasting, Electronics and Information Technology Ashwini Vaishnav will soon visit Brussels to attend the India-European Union (EU) Trade and Technology Council (TTC) meeting. Piyush Goyal on Saturday said that this dialogue will complement the recently concluded India-EU Free Trade Agreement (FTA) and help in its effective implementation.
Speaking to reporters on the sidelines of the 17th Toy Biz International B2B Expo, Goyal said the three ministers will hold a meeting with the European Commission.
He said, “It is our endeavor that this meeting should complement the Free Trade Agreement, so that the practical challenges faced during the implementation of the FTA can be overcome and both sides can get maximum benefits from it.”
Goyal said that through the Trade and Technology Council (TTC), cooperation between India and the European Union in important areas like trade, technology and strong supply chains will be further strengthened. Besides, this platform will also play an important role in effectively implementing the FTA.
Giving information on other trade agreements, Goyal said that negotiations on the India-Canada Free Trade Agreement (FTA) are progressing well. He told that a team of Indian negotiators will leave for Canada on Monday.
He said that the government is trying to finalize this agreement within the next six months.
However, regarding the proposed FTA with Peru, he indicated that this agreement is unlikely to be completed soon as India has objections on issues related to giving market access to some products.
At the same time, on the proposed trade agreement with Israel, Goyal said that despite the ongoing conflict in West Asia, talks are going on, although its pace is slow at the moment. He expressed hope that the talks will gain momentum once the situation in the area becomes normal.
Meanwhile, while addressing the Toy Biz International B2B Expo, Goyal appealed to the toy manufacturers of the country to take advantage of the growing opportunities in the global markets. He asked the industry to aim to increase toy exports by 10 times in the next four years.
He also clarified that the government will not allow any relaxation in the mandatory quality standards for toys and strict rules will remain in place to ensure the quality of Indian products.
–IANS
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