London: UK Prime Minister Rishi Sunak in his address on foreign policy emphasized the importance of a Free Trade Agreement (FTA) with India that aims to strengthen the domestic economy.
Key Takeaways
- India and the UK are engaged in FTA negotiations, which began in January this year, aiming to advance trade and investment relations between them.
- Both countries currently have a multi-dimensional strategic partnership and actively engage in bilateral trade.
- Sunak in his address at the Lord Mayor’s Banquet at London’s Guildhall said “By 2050, the Indo-Pacific will deliver over half of global growth…compared with just a quarter from Europe and North America combined.”
- He said “we’re joining the Trans-Pacific trade deal, the CPTPP, delivering a new FTA with India.”
- Sunak asserted that the “golden era” between Britain and China is “now over” and that it is time to evolve the approach towards China as the country is posing a systemic challenge to UK’s values and interest with its authoritarian rule.
- He further criticized the human rights abuses taking place in China while putting forward his stance on foreign policy.
- Sunak also extended support to Ukraine saying that the UK stands with the war-ravaged country.
- He further added Britain is also reinvigorating its European relationships to tackle challenges like security and tackling migration.
(With Agency Inputs)
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