BU expert gives evidence to International Trade Committee
BU鈥檚 Professor Sangeeta Khorana has given evidence to the House of Lords鈥� International Trade Committee on a proposed trade deal between the UK and India.
Professor Khorana, a Professor of Economics, worked as a civil servant within the Indian Government and has extensive experience with international trade, also providing evidence to the Welsh Assembly and as a member of the Expert Trade Advisory Group.
The evidence looked at the deal in detail, and the potential gains that could be made by the UK through lower tariffs and the reduction of 鈥榖ehind the border鈥� barriers. Sangeeta spoke about the relationship between the two countries, and their shared expertise as big exporters of services and how a Free Trade Agreement (FTA) might enable the UK to achieve a positive outcome in complementary services sectors.
Professor Khorana said, 鈥淭his is an important trade deal due to its size and intended scope. The UK and India are the fifth聽and sixth聽biggest economies in the world, respectively. India represents a large market, of about 1.4 billion, and poses an important opportunity for enhanced market access for UK firms that will develop the economic relationship between strategically important bilateral trading partners. This trade deal is important given the UK is looking to establish its outward-looking global Britain image, 'unlock opportunities in the region'聽and supports the UK鈥檚 aim to champion for a 'bigger role in the world'".
The evidence given also highlighted the opportunities for the UK to include goals for the promotion of labour rights, labour standards and the environment.
