India and the European Union (EU) will start the next series of negotiations on Monday for their free trade agreement (ALE), aimed at concluding an interim agreement as soon as possible.
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This follows the Announcement last week By the Prime Ministers of India and the United Kingdom, which confirmed the conclusion of the key elements of India-Uk Ale.
New Delhi and Brussels agreed to finish the FTA in two stages, the first phase of the agreement which should be finalized long before the end of year deadline, according to an official.
The deadline for the second and last round will remain the end of the year. Removed by the completion of negotiations on the Ale on a large scale with the United Kingdom, India wants to sew as many commercial transactions as possible this year. The global uncertainty caused by the Trump era prices also pushes the EU and India to conclude the agreement. The next series of talks, which will be the 11th, will continue until May 16.
Negotiations in the tranches will allow faster implementation of trade liberalization in the fields where there are the least differences. More controversial problems can be discussed in the later phases.
To speed up the process, the Minister of Commerce and Industry, Piyush Goyal, had visited Brussels during the first week of this month when he met his counterpart Maros Sefcovic, Commissioner for the Commerce and Economic Security of the European Commission. Discussions focused on expanding market access and reducing non -tariff barriers (NTB).
India is also in talks with the United States for the first section of a bilateral trade agreement (BTA).
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A similar strategy was applied to Australia where the two parties quickly concluded an economic and commercial cooperation agreement (ECTA) in 2022. Negotiations are underway to extend this to a broader trade agreement and sign the complete economic cooperation contract (CECA). Fe
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