‘India-EU free trade agreement could be concluded before year end’
‘India will raise its concerns over certain EU’s regulations such as carbon tax and deforestation rules in trade talks’;
Paris: Commerce and Industry Minister Piyush Goyal on Sunday said that negotiations for the proposed comprehensive free trade agreement (FTA) between India and the European Union (EU) are progressing at a rapid pace and the deal could be concluded before the year end.
He also said that India will raise its concerns over certain EU’s regulations such as carbon tax and deforestation rules in the trade talks.
“We have certain concerns about EU practices and regulations, likewise they have certain areas which they would like to discuss. All issues are on the table and we will negotiate a fair, balanced and equitable FTA,” Goyal told reporters here.
He added that all of these issues will come up for discussions, so that both sides can come up with a robust agreement that will support market access and promote easier trade.
The minister is here for a two-day visit. He will meet French leaders and business representatives to promote trade and investments between the two countries.
When asked about the expected timeline for conclusion of talks on the FTA, he said: “We never had a deadlines for a FTA, but looking at the rapid progress that we (India and the EU) are making, my sense is that we could do it faster than the year end”.
He said that there are not too many issues where both sides have divergence of opinions. “We have both complimentary economies. In most cases what is of offensive interest to India does not hurt the EU economy, likewise goods and services that Europe would like to provide to India only support our growth story,” he said. However, the minister added that in any trading relationship, there are certain sensitive issues on both sides, “which is what we have to resolve amicably”.
Further, he said that India does not shy away from discussing issues pertaining to gender and sustainability in such trade pacts. “We will off course have a comprehensive FTA covering all subjects of mutual interest... Subject like gender, India bats on the front foot, and when it comes to subjects like sustainability, India is right at the fore front. India does not shy from any subject for discussions,” Goyal said.