Prime Minister Narendra Modi will hold bilateral meetings with leaders of eight countries on Wednesday on the margins of the G20 summit in Bali, Indonesia.
The Prime Minister is slated to have bilateral agreements with heads of Indonesia, Spain, France, Singapore, Germany, Italy, Australia and the United Kingdom.
Earlier today, PM Modi was greeted by Indonesia’s President Joko Widodo at the venue. Upon his arrival in Bali on Sunday night, PM Modi received a traditional welcome.
“Grateful to the Indian community for the warm welcome in Bali!” the Prime Minister tweeted.
PM Narendra Modi also met his UK counterpart Rishi Sunak and French President Emmanuel Macron on the sidelines of the G20 summit.
“With my friend President @EmmanuelMacron during the @g20org Summit earlier today,” the Prime Minister tweeted.
This will be PM Modi’s first engagement with his UK counterpart Rishi Sunak after being elected as Britain’s new prime minister following Liz Truss’ resignation from the position.
India and the United Kingdom have a multi-dimensional strategic partnership and actively engage in bilateral trade. The two countries agreed to begin formal negotiations for an FTA in January 2022, aiming to advance trade and investment relations between them.
India and the UK who were looking to conclude the bilateral free trade agreement (FTA) pact by Diwali were shocked after the UK PM Liz Truss’ resignation, however, the deal is on track as per Union Commerce Minister Piyush Goyal.
The FTA is important for both countries as it would boost and create a robust framework of overall trade and investment between the two countries.
Meanwhile, Britain said it will only sign the India-UK Free Trade Agreement (FTA) when there is one that “meets the UK’s interests.
A free trade agreement is a pact between two or more nations to reduce barriers to imports and exports among them. Under a free trade policy, goods and services can be bought and sold across international borders with little or no government tariffs, quotas, subsidies, or prohibitions to inhibit their exchange.
FTAs usually cover trade in goods (such as agricultural or industrial products) or services (such as banking, construction, and trading).
Prime Minister Narendra Modi and US President Joe Biden expressed satisfaction about the close cooperation between India and US in new groupings such as the Quad, I2U2 and reviewed India-US strategic partnership on the margins of G20 Summit in Bali on Tuesday.
Both sides discussed close cooperation in future-oriented sectors like critical and emerging technologies, advanced computing, and artificial intelligence, an official statement by Prime Minister’s office read.
The two leaders also exchanged dialogue on topical global and regional developments.
As per the official statement, Prime Minister Narendra Modi thanked US President Joe Biden for his constant support for strengthening the India-US partnership and expressed confidence that both countries would continue to maintain close coordination during India’s G-20 Presidency.
Moreover, India and France have a longstanding strategic partnership, strengthened by regular high-level consultations and growing convergences in various areas.
The 17th edition of the G20 Summit will focus on key global concern issues under the theme ‘Recover Together, Recover Stronger.’
Indonesia’s President will hand over the G20 Presidency to India at the closing ceremony of the Bali summit. India will officially assume the G20 Presidency from December 1, 2022. PM Modi will extend personal invitations to G20 members and other invitees at the G20 summit scheduled to be held in India in 2023. (ANI)
This report is filed by ANI news service. TheNewsMill holds no responsibility for this content.
