India and European Union (EU) will hold a series of meetings next month which is aimed at concluding negotiations on the India-EU free trade agreement (FTA) by this year-end.
“In the last week of August, chief negotiators are meeting in Brussels (EU headquarters)…Commerce Minister Anand Sharma and EU Trade Commissioner Karel De Gucht will also meet on the margins of an international meeting in Vietnam,” said Head of the EU delegation to India, Daniele Smadja, here on Friday.
Round table
Addressing a round table on ‘Investing in the European Union — way forward for Indian companies' organised by the Federation of Indian Chambers of Commerce and Industry (FICCI), Mr. Smadja said the EU had committed itself to full openness towards Indian investments.
Despite the fact that there were several issues to be ironed out, both trading partners are aiming to conclude the FTA talks by the end of 2010. The 27-member EU had been insisting on including non-trade issues like child labour and environment in the trade pact, which was strongly opposed by India.
FICCI report
According to a FICCI-Grant Thornton report that was released at the function, the FTA pact is expected to improve market access for goods and services.
It said bilateral trade was expected to exceed euro 70.7 billion ($91.4 billion) by 2010 and euro 160.6 billion ($207.6 billion) by 2015.
