India, EU decide to resume negotiations on FTA; unveils connectivity partnership

NEW DELHI: India and the European Union (EU) on Saturday announced their decision to resume negotiations for a balanced and comprehensive trade agreement after a gap of eight years and unveiled an ambitious connectivity partnership, during a virtual meeting between Prime Minister Narendra Modi and leaders of 27 member nations of the bloc.

In his remarks, Modi invited the EU to support a proposal by India and South Africa to waive patents on COVID-19 vaccines so that there can be equitable vaccine access for the entire world, officials said.

However, there was no concrete decision on the matter from the EU side, according to EU officials.

The meeting, participated by leaders of EU member states as well as the top leadership of the EU, also decided to launch negotiations on two other key agreements on investment protection and geographical indications.

Secretary(West) in the Ministry of External Affairs Vikas Swarup said the two sides agreed to resume negotiations for a balanced and comprehensive free trade and investment agreements and that talks on both the pacts will be pursued on parallel tracks with an intention to achieve early conclusion of both of them.

The negotiations for the ambitious free trade agreement, launched in 2007, were suspended in 2013 amidst difference on crucial issues, including tariff rules and market access.

You might also like
Leave A Reply

Your email address will not be published.