India and the European Union (EU) have resumed dialogue for a free trade agreement (FTA) after a nine-year-long lull, the Ministry of Commerce and Industry said on Saturday, 18 June.
EU trade commissioner Valdis Dombrovskis expressed his pleasure saying, “Pleased that we re-started talks on Free Trade Agreement today (with India). Next round of negotiations will take place from June 27 till July 1 in New Delhi.”
“We’re pursuing an ambitious timeline and we aim to conclude talks by end of 2023,” Dombrovskis added.
A statement from the Ministry of Commerce and Industry said that negotiations were also launched for a Geographical Indicators (GIs) Agreement, and a stand-alone Investment Protection Agreement (IPA).
The negotiations will see discussions attempting to resolve impediments to bilateral trade like the Market Access Issues. Moreover, while the proposed IPA provides a legal structure to enhance the confidence of investors through cross-border investments.
There will also be discussions on resolving the Market Access Issues which are impeding the bilateral trade.
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