India, EU consider global FTA, no early harvest – Marseille News

Other key events at the summit include UN, G-20 and WTO reforms, green and digital transitions, the work of a joint working group on artificial intelligence, and the participation of connectivity.

After a gap of 6 years, India and the European Union (EU) are set to resume talks on a comprehensive free trade agreement. Both partners seek to further strengthen financial ties and cooperation in the management of Covid19, strengthen connectivity and secure security. At the India-EU Leaders’ Meeting on Law-Based Indo-Pacific May 8.

Prime Minister Narendra Modi will attend the European Union-India Virtual Summit in Porto on Saturday. Leaders of 27 EU member states, Charles Michael, President of the European Council and Ursula von Der Lane, President of the European Commission will attend.

The previous EU-India summit was held in July 2020 via video conference, and the European Union and India ratified the Joint Declaration on the Five Year Roadmap for EU-India Strategic Partnership, Consumer Resource Efficiency and the Circular Economy.

The positive momentum in the relationship between India, the largest trading partner of India and the largest source of FDI, has led to broad expectations from leaders approving launch discussions for the FTA on trade, investment promotion and guidance. The India-EU FTA talks were adjourned in 2013 due to differences over tariff rules for auto parts and the right of traders to free movement.

EU officials said on Thursday that India-EU relations have grown positively in recent times. It is hoped that the differences in the trade negotiations will spread and pave the way for a conclusive negotiation. Negotiations will cover all areas of trade, and we do not envisage an early harvest. We envisage comprehensive, desirable and comprehensive negotiations, ”said an EU official.

See also  Rio Tinto CEO resigns after 46,000-year-old sacred local site destroyed

Other key events at the summit include UN, G-20 and WTO reforms, green and digital transitions, the work of a joint working group on artificial intelligence, and the participation of connectivity.

The India-EU meeting is part of the expansion of India-EU cooperation to assist India in tackling the catastrophic surge in Kovid-19 cases, oxygen shortage and increased deaths. The European Commission has announced $ 2.2 million in emergency funding to respond to the surge in Kovid-19 cases in India. The member states have already mobilized supplies of oxygen, ventilators and medicine emergencies from Austria, Belgium, the Czech Republic, Denmark and Finland. , France, Germany, Ireland, Italy, Luxembourg, Netherlands, Portugal, Romania, Spain and Sweden entered India last week through EU civil protection mechanisms.

Do you know the cash reserve ratio (CRR), finance bill, tax policy in India, expenditure budget and tariff? The FE Knowledge Desk explains all of these in detail. Get live BSE / NSE stock quotes, latest mutual fund net asset value, top equity funds, top winners and top losers on Financial Express. Don’t forget to check out our Income Income Tax Calculator.

The Financial Express is now in the telegram. Click here to join our channel and stay up to date with the latest news and updates from Biz.

Written By
More from Jake Pearson
Leave a comment

Your email address will not be published. Required fields are marked *