India Britain Setup Working Group on Trade

IAS Prelims 2023

Britain has set up a trade working group with India to prepare for a future deal following Britain’s exit from the European Union (EU).

Group will look at how to remove barriers to trade before both negotiate a free trade agreement on Britain’s exit from the European Union.

Britain cannot formally agree trade deals with other countries until it has left the EU, a process which will take at least two years from when it kicks off divorce talks.

But the government can do preparatory work.

Earlier, Britain had set up a similar group with Australia to “scope out the parameters” of a future deal and prepare for bilateral negotiations.

Leaving the EU would give Britain greater freedom to strike its own trade agreements, including with some of the world’s largest and fastest-growing economies.