Indian Prime Minister Narendra Modi congratulated UK’s new Prime Minister Keir Starmer on his victory and extended an invitation for an early visit to India. Both leaders discussed deepening the India-UK Comprehensive Strategic Partnership and agreed to work towards a free trade agreement.
Talks are underway between Thailand and the European Union (EU) for a free trade agreement that could reshape bilateral trade and boost economic cooperation. This potential agreement would cover areas such as business, services, and supply chains, with bilateral trade reportedly reaching nearly one billion euros on a weekly basis. The proposed agreement could also include comprehensive measures covering intellectual property, government procurement, and e-commerce.
The next round of talks for a free trade agreement (FTA) between India and the 10-nation Association of Southeast Asian Nations (ASEAN) is scheduled for July in Jakarta, Indonesia. The review will focus on the ASEAN Trade in Goods Agreement (ATIGA), aiming to expand trade in goods and services and reduce non-tariff barriers. India’s trade with ASEAN has declined by 5.74% in the current financial year. The review aligns with India’s Look East policy and is expected to strengthen trade and investment ties between the two regions.
Pakistan and Iran have reaffirmed the importance of energy cooperation and electricity trade despite potential US sanctions. During Iranian President Ebrahim Raisi’s visit to Pakistan, the two countries agreed to expedite a free trade agreement and boost bilateral trade to $10 billion over five years. They also emphasized collaboration on combating terrorism, narcotics smuggling, and other threats. The joint statement comes after US warnings about sanctions risks, highlighting the delicate balance in regional relations.
