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Key Points

5 points
1

Current trade is about four billion dollars.

2

Goal: double trade by 2030.

3

Joint Working Group will study tariffs and other trade rules.

4

Key areas: fertilizers, chemicals, machinery, vehicles, building materials, food, tea, metals, tourism.

5

Agreements on food safety cooperation and cultural exchanges.

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Summary

They will set up a Joint Working Group to look at taxes and rules that affect trade.

The countries want to trade more things like fertilizers, cars, machines, food, and tourism.

They also plan to share food‑safety knowledge and cultural events.

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New Words to Learn

11 words
bilateral
involving two countries
preferential trade agreement
a special deal that lowers taxes and rules to make trade easier
tariff
a tax on imported goods
non‑tariff barriers
rules that make importing harder without taxes
fertilizers
materials that help plants grow
pharmaceuticals
medicine products
renewable energy
energy from sources that do not run out, like sun or wind
fintech
technology that helps with money and banking
artificial intelligence
computer programs that can learn and make decisions
digital agriculture
using computers and sensors to help farms work better
sanitary and phytosanitary measures
rules to keep food and plants safe from germs and pests
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