India-Peru FTA unlikely to be finalized soon: Piyush Goyal
What's the story
Commerce and Industry Minister Piyush Goyal has said that the proposed free trade agreement (FTA) between India and Peru is unlikely to be finalized anytime soon. The delay is mainly due to concerns over market access for certain products. The minister made these remarks while attending the 17th Toy Biz International B2B Exhibition in New Delhi today.
Market access issues
Negotiations for India-Peru FTA stalled since 2017
Goyal said, "There are certain concerns. There are many products where we cannot offer them market access." He added that he doesn't see the India-Peru FTA happening anytime soon. The negotiations for this proposed agreement started back in 2017 but have been stalled due to these ongoing market access issues.
Canada talks
Canada FTA talks going well, says Goyal
Unlike the India-Peru FTA, Goyal said that talks for an India-Canada FTA are going well. He announced an Indian team will be leaving for Canada on Monday for the next round of negotiations. "We are trying that we should conclude it in the next six months or so," he said about this ongoing process.
Brussels trip
Goyal to join Indian delegation at India-EU TTC meeting
Goyal also announced his upcoming trip to Brussels with External Affairs Minister S Jaishankar and Union Minister for Railways, Information and Broadcasting, and Electronics and IT Ashwini Vaishnaw. They will be attending the India-EU Trade and Technology Council (TTC) meeting on July 13. "Our effort is that it becomes a supplement to the FTA which we have finalized," Goyal said about this visit.