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New Delhi, Oct 29 (IANS) Finance Minister Nirmala Sitharaman met a delegation of members of the European Parliament’s International Trade Affairs Committee (INTA) here on Wednesday to further enhance India-EU trade and investment ties.
The meeting assumes significance amid India-EU FTA talks as the EU technical team led by Trade Director General Sabine Weyand will visit India next week with the aim of achieving “constructive conclusions based on potential solutions identified in the last two days” after fruitful meetings with Commerce Minister Piyush Goyal in Brussels.
According to a Finance Ministry statement, the EU delegation’s meeting with FM Sitharaman “focused on enhancing India-EU trade and investment relations, with both sides looking forward to deeper and mutually beneficial cooperation”.
The delegation discussed trade, economic and investment relations between the EU and India. The main objective of the visit is to contribute to enhancing mutual understanding amid intensive trade negotiations between the EU and India.
According to an earlier official statement, “The mission is timely, taking place just months before the deadline to conclude negotiations for a free trade agreement by the end of 2025. We look forward to discussing the issues at stake as both sides have a mutual interest in reaching a meaningful bilateral agreement and protecting the rules-based multilateral trading system.”
INTA members held various meetings at both ministerial and parliamentary levels. The International Trade Committee is carefully examining the negotiations between the EU and India to date, and any agreement will be subject to the consent of the European Parliament.
To take forward the ongoing free trade agreement (FTA) negotiations, an EU technical team led by Trade Director General Weyendt will visit India next week with the aim of obtaining “constructive conclusions based on potential solutions identified over the past two days”, an official statement said on Wednesday.
Goyal, who visited Brussels from October 26-28, had productive and fruitful talks with European Trade and Economic Security Commissioner Maros Sefcovic and his team on outstanding issues related to the ongoing India-EU FTA negotiations.
The engagement was focused on achieving a mutually beneficial, balanced and equitable trade agreement that reflects the political trust and depth of strategic relations between India and the EU, while respecting each other’s sensitivities and priorities.
–IANS
NA/VD