“Good progress is there on India-EU FTA. There is significant progress in talks,” said the manager, without disclosing more details.
During the meeting between Goyal and Sefcovic, the two parties agreed to build a significant commercial commercial program and to work towards a mutually beneficial commercial pact.
The two leaders also described the political guidelines for the two teams in order to develop a mutually beneficial program for trade and investment and a robust ALE in an accelerated manner to meet the global challenges.
The meeting came before the 10th round of talks between India and the EU, which is scheduled from March 10 to 14 in Brussels.
In the ninth round, the two parties discussed commercial problems covering goods, services, investment and public procurement as well as the necessary rules such as the rules of origin, SPS (health and phytosanitary) and technical obstacles to trade. In June 2022, India and the EU block in 27 countries resumed negotiations after a gap of more than eight years. He was blocked in 2013 due to differences on several questions. Total trade amounted to $ 180 billion in 2023-24. India has exported $ 75.18 billion to goods and 31.13 billion EU service services, while the EU exported $ 63.44 billion in goods and $ 31.35 billion services in India.
At the same time, the ministry said, the EU is also an important source of foreign direct investment, with a total FDI estimated at 117.34 billion dollars.
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