The EU and India have agreed to resume long-term negotiations on a comprehensive trade agreement as both sides seek to promote economic involvement and respond to China’s growing power.
Brussels and New Delhi have also agreed on parallel talks aimed at achieving an investment protection agreement and an agreement to protect local specialty foods.
The· Move Settled at the Virtual EU-India Summit on Saturday, it represents an effort to deepen relations after global growth was destroyed by the Covid-19 pandemic. European Council Chair Charles Michel said both sides are opening a “new chapter” in the partnership.
“We have agreed to resume negotiations on a balanced, ambitious, comprehensive and mutually beneficial trade agreement that addresses current challenges,” the EU and India jointly joined on page 6. Said in a statement. “We agreed that finding a solution to long-standing market access problems is essential to creating the positive dynamics needed for negotiations.”
The agenda sets up a number of initiatives to strengthen relationships on topics ranging from air transport to student exchange. The detailed program comes when Britain after Brexit is also investing a lot of diplomatic energy to seek a closer relationship with New Delhi.
The need to respond to the fast-growing power and reach of Beijing has infused new momentum into the dialogue between the EU and India’s Prime Minister Narendra Modi, who met via video conferencing on Saturday.
Relations between the EU and China are becoming increasingly tense, raising questions about the future of politically-backed investment partnerships last year. In March, the EU joined its Western partners to impose sanctions on Chinese authorities for human rights abuses. Beijing responded with sanctions on European officials and politicians.
Brussels is in India Decision to pull out A window was opened as a result of negotiations on a China-backed trade agreement last year as New Delhi was looking for an alternative partner. However, the EU and India will face a difficult battle in trying to reach a comprehensive trade agreement following the collapse of previous negotiations.
Early efforts by the EU and India, despite work from 2007 to 2013, were stalled due to differences in issues such as professional services and auto parts. Other controversial topics ranged from Scotch whiskey to data protection standards.
EU and India Connection partnership On Saturday, we aim to collaborate in areas such as digital, energy and transportation infrastructure. Both sides also want to strengthen regulatory cooperation on emerging technologies.
Despite its pledge to deepen cooperation, the EU is resisting support from countries, including India, seeking a patent waiver claiming that its supporters will boost the production of the Covid-19 vaccine. Modi is under intense pressure at home as the country is tackling a deteriorating health crisis, with more than 400,000 infections reported daily in the brutal second wave.
EU and India agree to resume trade negotiations
Source link EU and India agree to resume trade negotiations