Negotiating trade pact with US, EU
image for illustrative purpose
Visakhapatnam: Commerce and Industry Minister Piyush Goyal on Friday said India is negotiating free trade agreements at present with countries, including the US, European Union, New Zealand, Oman, Peru and Chile.
He also said that India Trade Promotion Organisation (ITPO) would be happy to join hands with the state government to develop a world class convention centre - Andhra Mandapam here - like Bharat Mandapam in New Delhi.
The minister added that lowering trade barriers globally will help promote free flow of goods, services and capital.
India has already implemented free trade agreements with countries such as the UAE, Australia and four-nation European bloc EFTA.
"We are currently negotiating with the EU, US, Oman, New Zealand, Chile and Peru and many more wanting us to start negotiations," he said here at CII Partnership Summit 2025.
To promote ease of doing business, he said the Centre has removed as many as 42,000 compliances and abolished 1,500 laws.
Later speaking at the event, Andhra Pradesh Chief Minister N Chandrababu Naidu said that he will provide land for the construction of a world class convention centre.
Further, Goyal suggested steps to expand global cooperation.
He suggested promoting two-way investments by lowering trade barriers and creating an open transparent environment that enables a free flow of goods, services and capital.
The other suggestions include technology cooperation; and building a predictable policy framework to promote long term partnership. These remarks are important in the wake of growing protectionism globally.
