India, EU conclude another round of BTIA negotiation

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SME Times News Bureau | 18 May, 2013
India and the European Union have concluded another negotiation on the much awaited Broad-based Trade and Investment Agreement (BTIA), according to an official statement released Friday.

"The Chief negotiators met here from 15th May to 17th May for another round of negotiation for India EU BTIA. All issues on the table were discussed," the release said.

"Negotiators felt that some positive movements have been accomplished though many critical issues are still needed to be discussed further. Negotiators reiterated their commitment for a balanced and ambitious agreement as per the mandate given to them," it added.

The negotiation had gained some momentum from the ministerial-level talks held in Brussels last month, with the two sides airing optimism about making further progress in June 2013.

India EU BTIA Negotiations are underway since June 2007 with the EU for a Broad based Trade and Investment agreement (BTIA) with 17 Rounds having been completed.

Apart from the regular rounds of negotiations, a number of inter-sessional and Digital Video Conferences in various areas have taken place.

The BTIA would involve slashing of duties on over 90 per cent of the trade and opening up of the mutual markets for services and investment.

The Indian side seeks comfort and clarity on the market access being provided to India in Modes 1 and 4 and asked for assurance that these are actually effective on the ground.

In mode-1, India would need to be declared as data secure in order to provide access. Similarly, on Mode-4 i.e. movement of natural persons for providing services, India is pushing for better access and removal of safeguard clauses that may hamper the actual realisation of concessions offered by EU. India also wants more access for domestic industry and Indian agricultural products.

The European side is concerned over some issues with regard to market access and patent issues.

Bilateral trade between India and EU in the year 2011 was US$ 108.80 billion which increased from US$ 83.46 billion in 2010. The exports in the year 2010 were US$ 41.15 billion which increased to US$ 54.74 billion in 2011.

On the other hand, imports in the year 2010 were US$ 42.32 billion which also increased to US$ 54.07 billion in 2011. For the period January- April 2012, export was US$ 16.17 billion and import was US$ 18.53 billion. The total trade for this period was US$ 34.7 billion.