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Next meet looks to build consensus on rules of origin, IPR
Business Standard
|July 29, 2023
With the 12th round of negotiation a few days away, India and the United Kingdom (UK) hope to build consensus on three key issues rules of origin (ROO), intellectual property rights (IPR), and investment treaty in the proposed free trade agreement (FTA) between both nations.
The negotiations are currently at a crucial stage, with the next round of negotiation expected in the second week of August. In the case of rules of origin chapter, the principles have been agreed upon. However, the modalities are still being worked out, a person aware of the matter said on Friday. "In rules of origin, we are doing things at the international level for the first time. We are going for product specific rules... Every product will have a specific rule, whether it is value addition or change in tariff heading," the person said.
In any FTA, rules of origin determine the criteria for which goods are eligible for free imports, with the larger idea to avoid routing of products manufactured in third countries to India.
This story is from the July 29, 2023 edition of Business Standard.
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