New Delhi, July 4 (IANS) Indian ministers — Union Commerce and Industry Minister Piyush Goyal, External Affairs Minister S. Jaishankar and Union Minister for Railways, Information and Broadcasting, Electronics & Information Technology Ashwini Vaishnaw — will soon travel to Brussels for the India-European Union Trade and Technology Council (TTC) dialogue, which will complement the recently concluded India-EU free trade agreement (FTA) and facilitate its implementation, Goyal said on Saturday.

Speaking to reporters on the sidelines of the 17th Toy Biz International B2B Expo, the minister said we will all be going for a meeting with the European Commission.

“Our effort is that it becomes a supplement to the free trade agreement which we have finalised and will help us to smooth the edges and make it easier to implement and benefit from the FTA going forward,” Goyal added.

The minister also said that the TTC dialogue is expected to strengthen cooperation between India and the European Union in key areas, including trade, technology and resilient supply chains, while supporting the effective implementation of the FTA.

On other trade negotiations, Goyal said discussions on the proposed India-Canada free trade agreement are progressing well, with an Indian negotiating team scheduled to leave for Canada on Monday.

“We are trying to conclude it in the next six months,” he said.

However, the minister indicated that the proposed FTA with Peru is unlikely to be concluded soon as India has concerns over providing market access for several products.

On the proposed trade pact with Israel, Goyal said negotiations are continuing despite the ongoing conflict in West Asia, although at a slower pace.

He also expressed hope that the talks would gather momentum once the situation in the region stabilises.

Moreover, speaking at the event, Goyal urged domestic toy manufacturers to capitalise on expanding global market access and target a 10-fold increase in exports over the next four years, while assuring the industry that the government will not dilute mandatory quality standards.

–IANS

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