New Delhi [India], August 21 (ANI) European Union appears ahead to deepening ties with”key partner” New Delhi by advancing talks for a Free Trade Agreement (FTA), the bloc’s high commerce official mentioned forward of India go to.
EU Executive Vice-President and Commissioner for Trade, Valdis Dombrovskis, will embark on a 5-day go to to India on Tuesday, mentioned European Union’s diplomatic service in an announcement on Monday.
He will attend the G20 Trade and Investment Ministers Meeting in Jaipur, and co-chair the EU-India High-Level Dialogue on Trade and Investment along with Union Commerce Minister Piyush Goyal in Delhi.
“India is a key partner for the EU and we look forward to engaging with our Indian counterparts on how we can further deepen our ties, notably by advancing our talks for a Free Trade Agreement. The G20 comes just six months before the 13th Ministerial Conference of the WTO, so we must seize this opportunity to drive forward the multilateral trade agenda at a time of global turbulence,” Executive Vice-President and Commissioner for Trade, Valdis Dombrovskis, was quoted within the assertion.
During his keep, he’s additionally attributable to meet Nirmala Sitharaman, Indian Minister of Finance, for discussions on the EU’s relations with India, European External Action Service (EEAS) mentioned.
The EU mentioned it’s aiming to deepen ties with India and dealing to that finish with negotiations on three bold agreements: a Free Trade Agreement, an Investment Protection Agreement and a Geographical Indications Agreement.
“Closer EU-India cooperation is symbolised through the parallel engagement in the Trade and Technology Council,” the assertion learn.
Last yr, the European Union and India relaunched negotiations to forge a free commerce settlement, with the goal of finishing talks by the tip of 2023.
The two sides beforehand launched talks in 2007, nonetheless, they had been frozen in 2013. EU and Indian leaders agreed in May 2021 to renew negotiations.
Free Trade Agreement (FTA) is a pact between two or extra nations to take away commerce boundaries between imports and exports and guarantee hassle-free commerce relations.
During his mission to India, Executive Vice-President Dombrovskis can even take part in a gathering with European Business, organised collectively by EU Delegation and Task Force to determine a Federation of European Business in India (FEBI).
The key themes of the G20 assembly in Jaipur, beginning Wednesday, are multilateral commerce for international progress and prosperity, inclusive and resilient commerce, provide chains in addition to leveraging know-how for paperless commerce.
In the margins of the occasion, Executive Vice-President Dombrovskis can even have the chance for bilateral conferences, together with with Mary Ng, Canadian Trade Minister, US Trade Representative Ambassador Katherine Tai; Turkish Trade MinisterOuml;mer Bolat; Indonesian Trade Minister Zulkifli Hasan; and Yasutoshi Nishimura, Japanese Minister for Economy, Trade and Industry. (ANI)