India and EU looking to restart Free Trade pact talks next month

Posted by Daily Shipping Times on 16-10-2017        Tweet

NEW DELHI: India and the European Union plan to take stock of the proposed free trade agreement negotiations next month and explore ways to put in place a framework to resume the stalled talks. A delegation comprising senior EU officials is visiting Delhi in November to reassess the talks and decide further course of action, an official said.

The talks have been stalled due to a plethora of reasons, beginning with a prolonged recession in the EU, its focus on concluding the Transatlantic Trade and Investment Partnership agreement with the US and then its move of banning 700 generic drugs tested in India. The Brexit dealt yet another blow to the talks.

“With the UK out of the EU, Germany is expected to take the lead in the negotiations,” a Delhi-based expert on trade matters said on condition of anonymity. “So, there will be less aggression on services as this was the UK’s long-standing demand. But automobiles may become an important agenda.”