Washington, District of Columbia 2021-05-04 05:33:22 –
London (AP) — The UK has announced a £ 1 billion ($ 1.4 billion) new trade and investment with India.
London (AP) — UK’s £ 1 billion ($ 1.4 billion) new trade and investment with India, including a deal with the Indian Serum Institute to support the development of vaccines against COVID-19 and other diseases Was announced.
The announcement preceded a video conference between Prime Minister Boris Johnson and Prime Minister Narendra Modi on Tuesday. They are expected to agree on deeper cooperation that could pave the way for a free trade agreement between the two countries.
The British government aims to increase trade with countries other than the European Union after the UK leaves the block.Trade and investment deals announced late Monday are expected to create more than 6,500 jobs in the UK, he said.
The UK government said in a statement that the package included a £ 240 million investment in the UK by the world’s largest vaccine maker, the Serum Institute, for clinical trials, research and possibly vaccine production. I plan to support you. The Serum Institute, in collaboration with Codagenix, has begun early-stage trials of a single-dose nasal vaccine against COVID-19.
“As with all aspects of Britain’s relations with India, the economic ties between the two countries make the people stronger and safer,” Johnson said in a statement. “Each of the more than 6,500 jobs announced today will help families and communities recover from the coronavirus and boost the UK and India economies.”
The total annual trade between the UK and India is around £ 23 billion, less than 5% of the UK’s trade with the EU.
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