Piyush Goyal on India-EU trade negotiations: 'Agreed to close 10 out of 20 chapters'
&imwidth=600&imheight=450&format=webp&quality=medium "Piyush Goyal on India-EU trade negotiations: 'Agreed to close 10 out of 20 chapters'")
Piyush Goyal returned to India from Brussels after a three-day official visit. Photograph: (File)
India-EU trade agreement: The European Union relaunched negotiations on June 17, 2022. The two sides have resolved to conclude the India-European Union Free Trade Agreement (FTA) by the end of 2025.
Piyush Goyal, the Union Commerce and Industry Minister, said on Wednesday that India is working with the European Union for a fair, equitable, and balanced Free Trade Agreement (FTA). He further said thatsignificant progress had already been made in the ongoing negotiations.
Piyush Goyal returned to India from Brussels after a three-day official visit. He said he hadproductive engagements with Maros Sefcovic, European Commissioner for Trade and Economic Security, on outstanding issues linked to the India-EU FTA negotiations.
He said the two sides agreed to close "10 out of 20 chapters" and "four-five" chapters are being "decided".
"We have agreed to close 10 out of 20 chapters. Another four or five chapters have, in principle, been broadly decided, and on more and more issues we are leading towards convergence," Goyal added.
He further said that the EU team will visit next week for the next roundof negotiations.
He also said that the two sides will make “significant and substantial progress towards closure.”
Trending Stories
)
)
&im=FitAndFill=(700,400))
)
)
)
)
)
)
&im=FitAndFill=(700,400))
)
&im=FitAndFill=(700,400))
)
)
&im=FitAndFill=(700,400))
)
)
)
)
&im=FitAndFill=(700,400))
&im=FitAndFill=(700,400))
)
&im=FitAndFill=(700,400))
)
)
)
)
)
He said the two sides arerecognizing mutual sensitivities and strengths during the negotiations.
"More and more countries and almost all businesses today want to expand relations with a resurgent, strong, decisive, democratic and aspirational India, full of youth, talent and skills, growing consumer demand, fastest growing large economy, doubling every eight years," he said.
He said in Brussels, India raised concernsregarding non-tariff measures and new EU regulations.
At the international forum, Minister Goyal reiterated that under Prime Minister Narendra Modi's leadership, “India once again demonstrated that we speak for the global south. We represent the voice of the less privileged, less developed or developing economies, and stand for collective action for global good, peace, and prosperity.”
The European Union relaunched negotiations on June 17, 2022. The two sides have resolved toconclude the India-European Union Free Trade Agreement (FTA) by the end of 2025.