Economy

India-EU trade talks: Chief negotiators take stock post Brexit

Amiti Sen New Delhi | Updated on January 17, 2018

Chief negotiators from India and the EU for the proposed India–EU free trade agreement met on Friday to take stock of the situation following the exit of Britain from the bloc and to establish positions on key components of the pact.

Talks on the proposed free trade pact, formally known as the broad-based bilateral trade & investment agreement (BTIA), began in 2007, but were suspended in 2013 following disagreement in key areas such as automobiles, wines & spirits, movement of professionals and investments in the financial sector.

“In today’s meeting, negotiating positions were established on a few pillars that are critical components of the BTIA. The language of Indian negotiations reflected the concerns of Indian industries in some sectors and expressed willingness to address outstanding issues as an integral part of the negotiations,” an official release from the Commerce Ministry said.

The negotiations are yet to formally re-start despite chief negotiators meeting a number of times mainly because of the EU’s pre-condition that India has to make certain concessions for its automobile industry. India is not in favour of giving assurances outside the negotiations.

India is in favour of concluding the BTIA as soon as possible, the release said.

Published on July 16, 2016

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