India-EU to resume talks on free-trade pact in August: Commerce Secretary
Updated: Jun 29, 2015 04:36:59pm
New Delhi, June 29 (KNN) India and the European Union have agreed to resume negotiations in August, after a gap of two years, on the proposed free trade agreement for boosting bilateral trade.
"Both the sides have agreed that negotiators must meet. We have conveyed that. Sometimes in August, the EU chief negotiator will be available for negotiations. They have also conveyed that in August they are available for talks," Commerce Secretary Rajeev Kher told media persons here today.
Post May 2013, there were no negotiations held. Kher said this is the right time to move on the proposed agreement as exports and imports with the EU are shrinking.
"Textiles and leather sectors are facing the beating (in the EU markets). So, by reducing tariffs, you can get greater market access. The benefits under the Generalised System of Preferences (GSP) have also gone," he said.
India's textiles exports to that market are around USD 2.5-3 billion annually.
"We need to bring in craftsmanship and strategy in our negotiations rather than generic talks," he added.
Talking about other free trade pacts, he said the next round of talks with Australia is expected next month.
"Now we have to discuss the specifics. In services, Australia gave us an offer which we found is not complete and we have to give them our request. We will do it by tomorrow. By July 31, both the sides would exchange offers in services sector," he said. (KNN Bureau)
"Both the sides have agreed that negotiators must meet. We have conveyed that. Sometimes in August, the EU chief negotiator will be available for negotiations. They have also conveyed that in August they are available for talks," Commerce Secretary Rajeev Kher told media persons here today.
Post May 2013, there were no negotiations held. Kher said this is the right time to move on the proposed agreement as exports and imports with the EU are shrinking.
"Textiles and leather sectors are facing the beating (in the EU markets). So, by reducing tariffs, you can get greater market access. The benefits under the Generalised System of Preferences (GSP) have also gone," he said.
India's textiles exports to that market are around USD 2.5-3 billion annually.
"We need to bring in craftsmanship and strategy in our negotiations rather than generic talks," he added.
Talking about other free trade pacts, he said the next round of talks with Australia is expected next month.
"Now we have to discuss the specifics. In services, Australia gave us an offer which we found is not complete and we have to give them our request. We will do it by tomorrow. By July 31, both the sides would exchange offers in services sector," he said. (KNN Bureau)
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