New Delhi, Apr 27 (PTI) Commerce and Industry Minister Piyush Goyal's visit to London, Oslo, and Brussels to boost trade ties will begin on April 28, according to an official.

This five-day visit is aimed to further boost India's trade and investment ties with the UK, Norway, and the European Union, the official said.

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The London visit is key as the negotiations for the proposed free trade agreement (FTA) between India and the UK are progressing towards the final stages.

The visit to Oslo assumes significance as India signed a comprehensive free trade agreement with the four European nation bloc EFTA in March last year.

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It is expected to be implemented this year. The European Free Trade Association (EFTA) members are Iceland, Liechtenstein, Norway, and Switzerland. The two sides signed the Trade and Economic Partnership Agreement (TEPA) on March 10, 2024.

Under the pact, India has received an investment commitment of USD 100 billion in 15 years from the grouping while allowing several products such as Swiss watches, chocolates, and cut and polished diamonds at lower or zero duties.

On the other hand, talks are also progressing at a faster pace for a trade agreement with the 27-nation bloc European Union (EU).

India and the 27-nation bloc are exploring a possibility of discussing an early harvest agreement before going for a comprehensive pact.

The 11th round of negotiations between the two sides is scheduled from May 12-16 here. In February, Prime Minister Narendra Modi and European Commission President Ursula von der Leyen agreed to seal the free trade deal by the end of this year.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)