Brussels, 30/11/2010 (Agence Europe) - The EU and India will not be concluding their talks for a bilateral investment trade agreement (BITA) during their annual summit in December, although talks are moving forward in substance. New Delhi has also received assurance of Brussels' confirmation that a satisfactory solution would be found on the dossier relating to access to generic medicines.
Meeting in Brussels on Monday 29 November, European Trade Commissioner Karel De Gucht and India's Trade Minister Anand Sharma took stock of the positive talks underway for a free trade pact between the EU and India after ten rounds of discussion since talks were launched in 2007. “Both sides confirmed that there has been substantial progress”, De Gucht's spokesman, John Clancy, told EUROPE. European and Indian negotiators will forward a progress report to European leaders and to India's Prime Minister Manmohan Singh, who are to meet for their annual bilateral summit on 10 December, in Brussels. “Both sides aim to use this momentum (…) to work towards a rapid and timely conclusion of the EU-India Free Trade Agreement (FTA)”, Clancy added.
There have been delays in the talks for a far-reaching agreement that is to cover goods, services and investment, including the tricky question of including social and environmental standards as advocated by the EU. Anand Sharma, however, told the Indian press of his optimism about an agreement being reached “in the near future”, an agreement that would have “balanced benefits” for both partners. The Indian minister also stated that his country was willing to take in more European investment in all sectors, including infrastructure, energy, renewables and the manufacturing industry.
Progress in the talks on the free trade agreement is all the more tangible since Sharma received confirmation, on Monday, of De Gucht's assurance that the EU will be amending its regulation to prevent any generic medicines being seized in future when transiting across EU territory. “On the issue of generics, once again there has been very good progress and we believe we are very close to a solution on this issue”, John Clancey said. India and Brazil had last year threatened to initiate proceedings against the EU at the WTO on the question of access to generic medicines, after deliveries of generic medicines produced in India had, in the name of counter-counterfeiting, been seized in 2008 and 2009 by the customs authorities of several EU member states (Germany, France, Netherlands) as the generics crossed Europe heading for Brazil. Faced with the threat of action being taken at the WTO, the EU agreed end 2009 to settle its dispute with India in an amicable fashion. (E.H./transl.jl)