European Commission Vice-President Valdis Dombrovskis and Indian Minister of Commerce and Industry Piyush Goyal formally reopened EU-India trade negotiations in Brussels on Friday 17 June.
This further strategic strengthening of EU-India ties is reflected in the opening of three bilateral negotiation packages led by the European Commission on behalf of the EU, covering a trade agreement, an investment protection agreement and an agreement on geographical indications.
Negotiations resumed following the joint EU Council declaration of 8 May 2021 in Porto (see EUROPE 12716/4) and a visit to Delhi by Commission President Ursula von der Leyen on 25 April.
The partners hope to conclude the trade agreement by the end of 2023, according to a timetable described as ambitious by Valdis Dombrovskis. Piyush Goyal said that India had assembled competent teams committed to meeting tight deadlines.
According to the Commissioner, trade liberalisation should promote growth in sectors such as services, e-commerce, intellectual property and running public procurement. “We will have provisions applicable to trade and sustainable development; this will allow us to be ambitious in terms of labour and environmental codes in our relations”.
The Commissioner also expects the investment agreement to increase foreign direct investments and employment for both sides, and says that the geographical indications agreement should protect rural populations in particular.
The next round of negotiations will be held in New Delhi from 27 June to 1 July.
On Thursday 16 June, the European Parliament’s Committee on International Trade (INTA) adopted a draft resolution by 31 votes to 2, with one abstention, in which MEPs welcomed the resumption of contacts with a strategic partner. They hope that the agreement will result in lower non-tariff barriers for certain goods and a reduction in discriminatory practices.
MEPs want negotiating chapters on better access for SMEs, on intellectual property rights and on the implementation of the Sustainable Development Goals. They call for a trade agreement based on European values and principles and in line with strategies such as the ‘European Green Deal’, the Paris Climate Agreement and the ‘Farm to Fork’ strategy, the multilateral framework and parliamentary involvement through a structured dialogue via a joint committee. MEPs are critical of India’s failure to condemn the Russian military aggression against Ukraine.
Link to the draft INTA report: https://aeur.eu/f/279 (Original version in French by Émilie Vanderhulst)