June 3, 2023

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Brussels hopes to conclude a trade agreement with India by the end of 2023

This content was released on June 17, 2022 – 18:27

Brussels, June 17 (EFE) .- The European Commission (EC) today expressed its desire to conclude negotiations on a free trade agreement between the European Union (EU) and India by the end of 2023, and has indicated that the next round of talks will take place. Held in New Delhi from June 27 to July 1.

“We are pleased to resume talks on the Free Trade Agreement today. The next round of talks will take place in New Delhi from June 27 to July 1. We are following an ambitious timetable and aim to complete the negotiations by the end of 2023.” Announced by the Commissioner of Commerce Valtis Dombrovsky.

Domprovsky expressed this sense during a press conference with Indian Trade Minister Piyush Goyal in Brussels today to formally resume talks on a free trade agreement between the two sides.

At a summit in May last year, EU and Indian leaders decided to resume talks on a free trade agreement. Negotiations to close the agreement between India and the European Union began in 2007, but were suspended in 2013.

Aiming to conclude the talks by the end of 2023, Domprovsky acknowledged that it would require “serious work and commitment on both sides”, but stressed that Brussels would “put the” substance “before the” deadline “.

“It’s not about setting a deadline carved in stone, then meeting them no matter what happens,” he said.

In addition to the Free Trade Agreement, the EU and India will simultaneously negotiate a conference on investment security and geographical codes.

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According to Domprovsky, talks on the three agreements “open a new and exciting chapter in relations between the EU and India.”

“We want to work together not only to create economic growth and employment, but also to enhance our shared values, protect the climate and protect our supply chains. Our ultimate goal is to increase trade and investment potential significantly, but more, between the EU and India,” he said.

He stressed that trade between the two sides had reached ,000 120,000 million, making India the third largest trading partner of the twenty-seven and the tenth trading partner of the Asian Country Social Club.

“As far as the EU is concerned, the partnership with India is one of the most important for the next decade,” Domprovsky said.

The Indian Minister said that the Social Club and India, which “respects the rule of law, transparency, democratic institutions” and “the power of the media and the judiciary”, are “vibrant” democracies.

“Therefore, it is only natural that the EU and India should expand our friendship and trust on the basis of a very ambitious and comprehensive trade agreement,” he said.

Goyal highlighted the “significant unused potential” he believes in “publishing” with three agreements on trade, investment and geographical codes. EFE

Jug / fpa

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