South Asia’s Trade Advisor Mark Birel said on Thursday at the British Sub-U-U-U-Utayog in Mumbai that the purpose of the Indo-Bitten Free Trade Agreement is to reduce tariffs, reduce non-tariff barriers and simplify the customs and digital processes to make the business as uninterrupted. Speaking at the global trade scenario national summit of the Confederation of Indian Industry (CII), Biral said that it is about making business as easy and uninterrupted. FTA is about improving customs processes and making digital trade easier. Beril said that the FTA agreement signed in the presence of leaders of both countries in July is a positive sign of strong trading relations between the UK and India.
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He said that we can already realize that as we are going through the perfection procedure and moving towards implementing the free trade agreement, it is expected to happen in future. Speaking to ANI, he said that it reduces tariffs, reduces non-tariff obstacles. But it is also a widespread positive sign of strong trading relations between the UK and India. Earlier, the Ministry of Commerce and Industry termed the agreement as a historic that it provides zero-fee access to 99 percent tariff lines, which covers about 100 percent of the trade value. This is expected to open export opportunities in labor-dominated areas such as textile, leather, shoes-slippers, gems and jewelery, marine products and toys, as well as promotion of employment and strengthening artisans, female-laid enterprises and MSMEs.
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Birel insisted that the Free Trade Agreement (FTA) is not only about the charges, but also about widespread cooperation. He said that this is a really strong relationship. This agreement is a positive sign in itself, and we hope that this relationship will continue to be stronger even in the future. When asked about the Indo-US fees, Birel refused to make any comments, but appreciated the Indo-Britain Trade Agreement.