Eu-India Free Trade Agreement

By | April 9, 2021

One of the main reasons why India has not lost in its traditional markets such as the United States and the EU is the number of trade complementarities with these partner countries. Major U.S. imports from around the world include, for example, machinery, mineral fuels, pharmaceuticals, organic chemicals, gems and jewelry, furniture, etc., which are also India`s main export products. Asked whether a timetable for the trade deal was appropriate, Foreign Minister Vikas Swarup told reporters: “There is no timetable for the conclusion of the Bilateral Trade and Investment Agreement (BTIA), but both sides agreed that the two co-mandates to move the talks forward should meet as soon as possible.” As governments around the world increasingly reset their approach to trade agreements amid the coronavirus pandemic, the Narendra Modi government is stepping up efforts to renew India`s trade relations with the rest of the world by revising its free trade agreement or strategy for a free trade agreement or free trade agreement. These include reviewing and renegotiating existing free trade agreements with ASEAN, Japan and Korea, as well as strengthening trade alliances with the European Union, the United Kingdom, the United States and Australia. However, in this context, exacerbated by the fact that most countries are cautiously following their trade strategy, India must focus on far-reaching free trade agreements with trading partners that offer maximum trade complementarities, particularly in the United States and the EU. In the United States, our untapped export potential as a percentage of current exports is around 60%, compared to 90% for the EU. With other Asian nations observing trade agreements with the West, Vietnam has already put one on the establishment of a new high-level dialogue mechanism at the ministerial level to “discuss bilateral trade and investment relations and address multilateral issues of common interest.” The free trade agreement currently being negotiated between the European Union (EU) and India is supposed to be the first of a new generation of free trade agreements between the EU and an emerging economy. This document addresses a number of critical issues in the negotiations and the EU response. These include European labour standards and the liberalisation of GATS 4; The production of Indian generic drugs and the EU`s interests in patent protection; EU agricultural subsidies and their impact on the Indian dairy sector; The dimension of human rights and democracy in EU foreign policy; The transparency issues of the negotiation process.

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