European Union (EU) Trade Talks

EU’s Trade Talks

Recently India has emphasized the utmost necessity in trade talks with the European Union (EU).

India and the European Union are negotiating trade and investment agreements. Meanwhile, the Indian External Affairs Minister has urged to consider their demands related to some non-trade issues from a “harmony and priority” approach.

The Foreign Ministers of India and France concluded a virtual meeting. It focused on providing cooperation on many issues related to the Indo-Pacific region. This includes COVID-19 vaccines, regulation for the blue economy, connectivity projects, etc.

He also outlined the proposal of India and the European Union to set up an “Indo-Pacific Campus on Health. It aims to promote exchanges in training, innovation and cooperation on pharmaceutical products.”

Negotiations related to the India-EU Bilateral Trade and Investment Agreement started in the year 2007, but the talks were interrupted since 2013. Recently, talks have resumed after eight years of impasse.

Concerns related to India-EU Bilateral Trade and Investment Agreement (BTIA)

India’s demand

“Data Secure” status (Important for the region of India); Easing norms on temporary movement of skilled labour, relaxation in norms regarding sanitary and phytosanitary (SPS) and technical barriers to trade (TBT), etc.

EU’s demand

Significant duty cuts in automobiles, reduction in tax on wine, spirits etc., a strong intellectual property regime, relaxation of India’s data localization norms, protection of all its goods with Geographical Indication etc.

Source – The Hindu

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