India and chief European Union (EU) will start the next series of talks on the free trade agreement (ALE) proposed here from Monday, in order to conclude the first phase of the Pact as soon as possible. The two parties agreed to conclude the agreement in two phases due to the uncertain global commercial environment, in particular due to American tariff actions under President Donald Trump, according to the government official.
Problems where there is a convergence would be included in the first part of the agreement. They aim to conclude the second part by the end of this year. “The EU team will be there for the 11th round of negotiations. It will continue until May 16,” said the official.
India has followed the practice of negotiating commercial pacts in two phases with Australia. He follows a similar approach to the United States. The discussions for the previous round (tenth) have concentrated on areas such as market access offers in goods, services, investment and government purchases.
Commerce secretary, Sunil Barthwal, said last month that if some of the questions, which may not be very fundamental to trade, could take a little more time, it is better to focus on basic business issues. So, we say that the first things first … We also discuss with the EU which can be the early harvest of the first slice, where we can do it faster. The secretary, on May 10, held an exam meeting on the pact with senior officials involved in the negotiations.
In addition to requiring significant rights reductions in cars and medical devices, the EU wishes a tax reduction in products such as wines, spirits, meat, poultry and an intellectual property regime. Exports from Indian products to the EU, such as ready -to -use clothing, pharmaceutical products, steel, petroleum products and electric machines, can become more competitive if the pact is successfully concluded.
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