India-EU Trade Pact
FM Nirmala Sitharaman meets EU delegation
New Delhi: Finance Minister Nirmala Sitharaman met a European Union delegation led by Member of the European Parliament (MEP) Bend Lange and discussed issues of mutual interest as well as the Europe-India trade pact.
As two of the largest open market economies and pluralistic societies, India and the EU can work towards a partnership that promotes international rule-based order in the post-pandemic period, the finance ministry said in a tweet.
"Finance Minister Smt @nsitharaman and Mr @berndlange agreed that there is keenness to move ahead on India-EU negotiations with Bilateral Investment Treaty, Free Trade Agreement and Geographical Indications Agreement," the ministry said in another tweet.
Union Finance Minister Smt. @nsitharaman received a European Parliamentary Delegation led by Member of the European Parliament (MEP) Mr @berndlange, in New Delhi, today, to discuss issues of mutual interests. (1/4) pic.twitter.com/AIU4rnpuLm
— Ministry of Finance (@FinMinIndia) April 12, 2022
Both sides underlined that synergised cooperation between India and the EU can harness opportunities to deliver on strong global value chains with transparent, viable, inclusive, and rules-based inter-linkages, it said.
The talks on the FTA with the EU have not made much progress.
The Bilateral Trade and Investment Agreement (BTIA), which has launched in 2007, has been held up since 2013 due to gaps on various critical issues like intellectual property rights, duty cut in automobiles and spirits, and a liberal visa regime.
Further, the two sides have to resolve the issue on movement on the movement of professionals.
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