Piyush Goyal says India and the US will go for a preferential trade agreement first on 50-100 goods and services, followed by a larger free trade agreement.
India is seeking concessions for generic drugs it exports to the United States in return for opening its dairy markets and slashing tariffs on farm goods as the two sides seek to shore up a new trade deal.
India and the US are close to concluding an initial limited trade package followed by a possible bilateral free trade agreement (FTA).
Last week, Kenya and US officially started negotiations of the Free Trade Agreement (FTA). A special interest group comprising civil society, trade unions and farmers have also mobilised against the FTA. This is a common trend globally when trade negotiations begin because the future of these vested interest groups is always uncertain.
Kenya’s free trade deal with the US has been challenged before the East Africa Court of Justice days after the two countries opened negotiations on duty-free imports.
India said both New Delhi and Washington are now “nearer” to a smaller trade deal than ever before as the US believes a free trade agreement (FTA) is possible even as India has walked out the Regional Comprehensive Economic Partnership (RCEP).
A series of high profile officials in Beijing have recently voiced openness about China joining a trans-Pacific trade pact abandoned by the United States in one of the first acts of Donald Trump’s presidency.
US Trade Representative Robert Lighthizer said the world needed either a multilateral system to govern global trade or a series of bilateral agreements, but the two were in conflict with each other.
US, Kenya kick off negotiations for free-trade agreement. Trump administration not looking to renew Africa regional pact.
Kenya should abandon or, at the very least, postpone the United States-Kenya Free Trade Agreement negotiations to a later date, civil society groups say in letter to the AfCFTA Secretariat.
Kenya’s negotiations for a free trade deal with America has received opposition from organisations drawn from across Africa.
The US Chamber of Commerce and over 40 trade associations on Monday urged top American and Chinese officials to redouble efforts to implement a Phase 1 trade agreement.
Unsurprisingly, the big American internet companies have views on what that trade deal should require from the UK in terms of copyright and safe harbour rules.
Farmers have welcomed plans for a new body to advise ministers on welfare standards and fair competition in trade deals with the US and other nations.
Kenya plans to gradually relax its regulations of the digital market to ease entry of US firms and products.
Kenya is keen on protecting key economic sectors and several strategic state-owned enterprises from the Free Trade Agreement ahead of trade talks with the US slated for July.
US Trade Representative Robert Lighthizer told members of Congress he hoped “at least a couple of chapters” could be closed out.
President Uhuru Kenyatta has said the much-anticipated trade talks between Kenya and the United States of America will start on 7th July 2020.
The East African Trade Network is strongly opposed to the creation of a Free Trade Agreement between United States and Kenya.
Without real protection for the NHS in any future trade agreement, we can only see bad news for patients, taxpayers and Health Boards around the country.