Even as the Commerce Minister visits Brussels, a delegation from the European Parliament will visit New Delhi to explore FTA issues.
Commerce and Industry Minister Piyush Goyal will visit Brussels on October 27 to 28 to hold high-level discussions with his counterpart in the European Union (EU) to provide “strategic direction and political impetus” to the ongoing negotiations on a free trade agreement between India and the European Union.
At the same time, a delegation of the European Parliament Trade Committee will be in New Delhi on October 27 to 29 to enhance “mutual understanding amid intensive trade negotiations between the EU and India”.
According to the Ministry of Commerce and Industry, Mr. Goyal’s visit to Brussels and meeting with Maroš Šefčovič, Executive Vice-President and European Commissioner for Trade of the European Union comes at a “crucial stage” in the FTA negotiations.
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“Building on the momentum generated by the 14th round of negotiations held earlier this month, the Minister’s visit aims to provide strategic direction and political impetus to the talks,” the Ministry said in a release.
The Hindu, on October 16, reported that while discussions were ongoing between India and the EU, the next formal round of negotiations had not yet been finalised as the issues holding up the deal required continuous communication rather than waiting for a formal round.
These issues included market access, regulatory cooperation and agricultural sensitivities.
“Discussions are expected to cover key areas of the proposed FTA, including market access, non-tariff measures, and regulatory cooperation,” the release added. “The visit will also serve to review progress achieved so far and to identify areas requiring further convergence.”
Mr. Goyal will hold a bilateral meeting with Mr. Šefčovič, which will be followed by a working dinner. This will not be considered a formal round of negotiations, but a continuation of discussions.
European team in India
The delegation of the Trade Committee will include seven members of the European Parliament, according a press release issued by the European Parliament.
“The main objective of this visit is to contribute to increasing our mutual understanding amid intensive trade negotiations between the EU and India,” the co-heads of delegation Cristina Maestre and Brando Benifei said in a joint statement. “The mission is timely taking place just a few months ahead of the deadline to conclude negotiations for a Free Trade Agreement by the end of 2025.”
During their visit to India, the delegation will meet a variety of stakeholders in order to receive “first-hand information on the opportunities and challenges posed by these trade negotiations”, the release said.
“INTA Members are set to hold various meetings at both ministerial and parliamentary level,” it added. “Members will meet with the Federation of European Business in India and with the Confederation of Indian Industry.”
The release further said that other meetings will be organised with civil society working on sustainability issues and with workers and employers’ representatives and organisations working on labour rights.
