European Union and India resume free trade talks on Saturday

The European Union wants to resume negotiations for a free-trade agreement with India. This Saturday (8 May), EU leaders will meet virtually with the Indian Prime Minister, Narendra Modi, to discuss the strengthening of relations. The expectation is a "breakthrough" in the relationship, say senior EU diplomats.

According to the Portuguese Minister of Foreign Affairs Augusto Santos Silva, the 27-nation bloc wants to restart talks on three agreements: the protection of geographical indication, reciprocal investments, and a pact to foster Indo-European trade. Portugal will host the summit on Saturday in Porto.

India's prime minister spoke to the President of the European Commission Ursula von der Leyen on Monday (3 May) about reviving the trade talks, which have been stalled since 2013. The pair will be joined by the President of the European Council Charles Michel, and the German Chancellor Angela Merkel for the virtual meeting. Michel will also talk to Modi before the Saturday summit. Ties between the EU and India have already become closer in recent years. 

According to senior EU diplomats, the strengthening of ties with India reflect European appreciation and recognition of the "natural ally" they see in the "world's largest democracy". "China needs to understand that it is not the only player in this part of the world," said an EU diplomat.

The EU is India's largest trading partner, accounting for €80 billion worth of trade in goods in 2019 or 11.1% of total Indian trade, on par with the United States and ahead of China (10.7%). The EU is the second-largest destination for Indian exports (over 14% of the total) after the USA.

 

Source: commonspace.eu with agencies

Related articles

Editor's choice
News
Pope on Christmas Day: "Peace is a shared responsibility"

Pope on Christmas Day: "Peace is a shared responsibility"

In his Christmas address on St Peter's Square, Pope Leo XIV renewed his plea for peace, reminding the world that it is both God’s gift and humanity’s shared responsibility. Pope Leo XIV renewed his appeal for peace, dialogue, and responsibility, turning to those regions where violence and instability continue to claim innocent lives. The Pope prayed for “justice, peace, and stability for Lebanon, Palestine, Israel, and Syria,” and urged that the promise of peace rooted in righteousness be renewed. He appealed in a particular way for Ukraine, asking that “the clamor of weapons cease,” and that all those involved, with the support of the international community, find the courage to engage in “sincere, direct, and respectful dialogue.” Remembering conflicts that risk being forgotten, Pope Leo XIV expressed closeness to the victims of war and violence in Sudan, South Sudan, Mali, Burkina Faso, and the Democratic Republic of Congo, as well as to all those who suffer as a result of injustice, political instability, religious persecution, and terrorism. The Pope also prayed for Haiti, calling for an end to violence and progress along the path of peace and reconciliation. He also invoked peace for Myanmar, asking that the country be guided towards reconciliation and hope, especially for its younger generations. Turning to Latin America, he encouraged those with political responsibilities to give space to dialogue for the common good, rather than to ideological and partisan divisions. The Pope also prayed for the restoration of the "ancient friendship" between Thailand and Cambodia, and entrusted to God the peoples of South Asia and Oceania, who have been severely affected by recent natural disasters, calling for renewed commitment to assisting those who suffer.

Popular

Editor's choice
News
Pope on Christmas Day: "Peace is a shared responsibility"

Pope on Christmas Day: "Peace is a shared responsibility"

In his Christmas address on St Peter's Square, Pope Leo XIV renewed his plea for peace, reminding the world that it is both God’s gift and humanity’s shared responsibility. Pope Leo XIV renewed his appeal for peace, dialogue, and responsibility, turning to those regions where violence and instability continue to claim innocent lives. The Pope prayed for “justice, peace, and stability for Lebanon, Palestine, Israel, and Syria,” and urged that the promise of peace rooted in righteousness be renewed. He appealed in a particular way for Ukraine, asking that “the clamor of weapons cease,” and that all those involved, with the support of the international community, find the courage to engage in “sincere, direct, and respectful dialogue.” Remembering conflicts that risk being forgotten, Pope Leo XIV expressed closeness to the victims of war and violence in Sudan, South Sudan, Mali, Burkina Faso, and the Democratic Republic of Congo, as well as to all those who suffer as a result of injustice, political instability, religious persecution, and terrorism. The Pope also prayed for Haiti, calling for an end to violence and progress along the path of peace and reconciliation. He also invoked peace for Myanmar, asking that the country be guided towards reconciliation and hope, especially for its younger generations. Turning to Latin America, he encouraged those with political responsibilities to give space to dialogue for the common good, rather than to ideological and partisan divisions. The Pope also prayed for the restoration of the "ancient friendship" between Thailand and Cambodia, and entrusted to God the peoples of South Asia and Oceania, who have been severely affected by recent natural disasters, calling for renewed commitment to assisting those who suffer.