The chair of the European Parliament’s trade panel hopes for an early FTA with India TOU

The chair of the European Parliament’s trade panel hopes for an early FTA with India

 TOU

The chair of the European Parliament’s trade panel hopes for an early FTA with India

Bernd Lang, chairman of the European Parliament’s International Trade Committee, recently visited New Delhi. In his visit, he said he hoped for an early conclusion of the Free Trade Agreement between India and the European Union (EU). He also underlined that with both India and the EU having elections in 2024, it would be nice to have an explanation before the election campaign begins.

A delegation of seven members of the European Parliament visited India for the first time since the Russian invasion of Ukraine on 24 February 2022. The delegation was led by Bernd Lang, Member of the European Parliament. During the visit, the delegation met with Indian Finance Minister Nirmala Sitharaman, Commerce Minister Piyush Goyal and other senior officials.

While talking to WION NEWS“The situation is different now than it was in our last attempt at a trade agreement 10 years ago,” said Bernd Lang. We are facing a situation in which many countries are using trade management methods, some protective measures, especially those related to epidemics. Therefore, I believe that it is time to reconsider the relationship between India and the EU as the 2nd largest democratic institutions in the world and this too is a result of my meetings in Delhi. India and the EU are open to resuming talks in a different way. ”

Speaking on the Free Trade Agreement between India and the EU, he said, “You have elections in India in 2024, we have European elections in 2024 so it would be nice to have an agreement before the election campaign starts. So in the middle or end of next year, as I said, political will may be real.

Bernd Lang also referred to the Free Trade Agreement signed between India and Australia as a standard that may be adhered to. He said: “There are other trade agreement experiences, India has concluded with Australia, we are negotiating with Mexico, Chile, New Zealand and Australia. So, there are some standards. ”

It is noteworthy that this reassuring hope from a member of the European Parliament came after the Western liberal media predicted various sanctions for its stance against India in the ongoing Russia-Ukraine crisis. India continued its trade relations with Russia and other countries, including the USA. On 2nd April 2022, India, while signing the Indo-Australia Economic Cooperation and Trade Agreement with Australia, decided to remove trade barriers and promised to double the bilateral trade between the two countries in the next few years. The agreement will help boost bilateral trade from $ 27 billion to $ 45-50 billion over the next five years.

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