India-EU FTA talks to continue, next meeting in June

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SME Times News Bureau | 16 Apr, 2013
The much awaited India and the European Union crucial Free Trade Agreement (FTA) has gained some momentum from the ministerial-level talks held in Brussels on Monday, with the two sides airing optimism about making further progress in June 2013.

The Union Minister for Commerce, Industry and Textile Minister Anand Sharma led a high level Indian delegation to Brussels which included Commerce Secretary and the Chief Negotiator for a Ministerial dialogue on the ongoing India-European Union Broad-based Trade and Investment Agreement (BTIA) negotiations on Monday.

The EU side was co-chaired by EU Trade Commissioner Karel De Gucht and Agriculture & Rural Development Commissioner Dacian Ciolos.

The candid discussion between the leaders covered all the elements of the package. A clear understanding was reached that a fine balance needs to be arrived at for meaningful expectations of market access on both the sides.

Sharma also underscored the importance of getting a good package on services, including declared interests in IT and movement of Indian professionals. He also emphasised the need to declare India a data secure country. Both sides sought a complete understanding on a balanced package in the services sector.

Other issues of market access for agricultural products, pharmaceuticals and textiles were highlighted by Sharma.

EU conveyed its strong interest in financial services, automobile sector, wines and spirits and cheese. EU also sought assurance on the facilitation of registration of their Geographical Indicators.

Sharma reaffirmed the stated position that India cannot go beyond the parameters of the TRIPS Agreement and Indian laws for Intellectual Property Regime in the ongoing negotiations for a trade and investment agreement.

In substantive terms, after the meeting of Prime Minister Dr. Manmohan Singh and German Chancellor Angela Merkel and the recent high level dialogue with President Francois Hollande of France and Prime Minister David Cameron of United Kingdom, the need for demonstrating pragmatism was underscored to conclude an ambitious and balanced agreement.

The experts and Chief Negotiators will remain engaged and the next Ministerial meeting is scheduled for June.