India and the European Union (EU) should have talks again in a few days on Trump prices, said a CNBC TV18 report. Trade ministers will discuss prices reduction, especially on cars and components, sources told CNBC TV18. The EU was following India-US trade discussions, in particular in the agriculture and dairy products sectors.
India wishes to conclude the free trade agreement (ALE) with the European Union block of 27 countries (EU) this year and the American tariff announcement has accelerated the efforts of the two parties. “The EU is looking for an ALE fully in line with the WTO with India, which will be respected in the long term,” said sources.
According to reports, EU companies are very wishing to intensify investments, but technical obstacles hold them.
India-EU FTA is a long-awaited trade agreement aimed at stimulating economic ties between India and the European Union and negotiations for the same thing started in 2007, but were blocked due to differences on issues. The two parties have made good progress on certain aspects of negotiations for the FTA that they wish to conclude by the end of the year, the American prices reinforcing the justification of the agreement.
During a visit to India in February, accompanied by almost the entire college of EU commissioners, the president of the European Commission Ursula von der Leyen and Prime Minister Narendra Modi had greatly approved the ambitious objective of concluding the free trade agreement (ALE) at the end of 2025. Negotiations, which initially started in 2007, were put on hold in 2013 before being rejected in 2013.
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