In a speech at London’s Lancaster House announcing her ‘top five trade priorities’, the minister said she was a problem solver at heart and was confident a ‘quality’ deal with India would be reached. claimed to be
“Some of you may know that I was a software engineer and systems analyst before I became a politician.
“So when India’s trade talks got stuck, I didn’t answer the phone and took a flight. That deal hasn’t been completed yet, but it’s back on track,” she said.
Mr. Badenok visited New Delhi in early December and met with his counterpart, Minister of Commerce and Industry Piyush Goyal, to initiate the sixth round of FTA negotiations.
A seventh round is due in the UK in the coming weeks and both sides are reluctant to set a new deadline to complete the negotiations.
The UK minister has emphasized concluding trade deals among her top priorities, saying: [Comprehensive and Progressive Agreement for Trans-Pacific Partnership] – Together, with nearly 2 billion consumers, the fast-growing market opens up exciting opportunities for years to come. “But I want to make it clear that signing with a dotted line is not the only purpose. These deals will only be agreed if they are the right deals for the people of this country. It’s about the areas we specialize in.”
The Minister flagged the example of a pet food company in North West England, referring to the work the Department for International Trade (DIT) is doing to open up the Indian market for British companies. A Lancashire company called VetPlus recently reportedly approached the DIT over “paperwork issues” in selling pet food products to India.
“We have fixed that and the company now has £1.5 million in additional business over the next five years. This is where my team comes in,” she declared.
Laying out plans for 2023, trade minister vows to remove trade barriers, preventing UK businesses from selling more and growing, creating new jobs and paying higher wages Defeated 100 Unnecessary Blockers.
“The UK is a prime destination for foreign investment. But this status is not a given. There is fierce global competition for all kinds of capital. We want to go ahead and attract businesses from all over the world to put money into communities across the country,” she said.
According to official UK government data, bilateral trade between India and the UK now amounts to around £29.6 billion annually. The two sides formally launched her FTA negotiations early last year, with the ambition of significantly boosting two-way exchanges.