EU, India Set To Restart Trade Talks After Nearly 8 Years: Official

0

“After almost eight years of the suspension of the free trade talks, we will agree to resume these,” an EU official said Thursday.

EU, India Set To Restart Trade Talks After Nearly 8 Years: Official

Trade talks between the two sides were halted in 2013. (Representational)



Brussels:

The European Union and India will agree to restart long-stalled trade talks at a leaders’ summit on Saturday, an EU official said, as tensions with China spur closer cooperation.

“After almost eight years of the suspension of the free trade talks, we will agree to resume these,” a senior EU official told journalists on Thursday in a briefing ahead of the summit.

“This opens up the way to a possible free trade agreement between us.”

Momentum has been growing for closer ties between Europe’s 27-nation bloc and the world’s largest democracy in the face of the rising might of Beijing.

Trade talks between the two sides were halted in 2013 after getting stuck on issues including cutting tariffs and access for Indian workers to Europe.

The EU official said Brussels was hoping to reach “an ambitious, comprehensive and also mutually beneficial agreement” with India — but it remains to be seen if New Delhi will ease up on its traditionally protectionist approach.

“We believe that this is one of the areas of cooperation between EU and India where the potential gain, both economically but also strategically, is the greatest,” the EU official said.

The bloc’s push to resume negotiations comes at a time former EU member Britain is also making a play to bolster its trade ties with India, as London seeks to carve out its new role.

The British government said Tuesday it would start formal free talks with India late this year after the two sides agreed an initial package to boost bilateral trade and investment.

(Except for the headline, this story has not been edited by our staff and is published from a syndicated feed.)

LEAVE A REPLY

Please enter your comment!
Please enter your name here

All the data shown above will be stored by www.rajpostexam.com on https://www.rajpostexam.com/. At any point of time, you can contact us and select the data you wish to anonymise or delete so it cannot be linked to your email address any longer. When your data is anonymised or deleted, you will receive an email confirmation. We also use cookies and/or similar technologies to analyse customer behaviour, administer the website, track users' movements, and to collect information about users. This is done in order to personalise and enhance your experience with us. Click here to read our Cookie Policy.