By Robin Emmot
Brussels (Reuters) – The European Union and India have agreed to resume their negotiations on a free trade agreement, which has been stalled since 2013, at its virtual summit to be held on Saturday, a draft statement reveals That Reuters was able to consult.
The text, which is still to be approved on Wednesday by Twenty-Seven ambassadors and obtain final approval of New Delhi, recommends resuming discussion on the approach to a trade deal “balanced, ambitious, comprehensive and reciprocal Economic powers eager to slow down the rise of beneficial China between the two.
Indian Prime Minister Narendra Modi on Monday discussed the subject with European Commission President Ursula von der Leyen, who will also be joined by European Council President Charles Michel and the German Chancellor, Angela Merkel.
The draft declaration also defends the search for an agreement on investment protection, as well as an agreement on protected geographic designations.
In a study published last year, the European Parliament estimated that the potential benefits of a trade agreement between India and the European Union could reach 8.5 billion euros.
However, the study was carried out by integrating the United Kingdom, which left the European Union in January and which on Tuesday announced to begin its trade talks with New Delhi later this year.
The European Union and India also want to consider common infrastructure projects around the world, targeting the transport, energy and digital sectors in this document.
In a thinly conceived critique of China’s funded infrastructure projects, the draft statement stated, “Our partnership will promote transparent, viable, inclusive, sustainable, comprehensive and rules-based connectivity.” Balkans.
The growth rate of the Indian economy has exceeded that of China in recent years and India sells 15% of its exports to the European Union, its export destination.
Although India has gradually reduced its customs barriers since 1990, the European Union is subject to heavy taxes on its agricultural and food products or motor vehicles among other vehicles.
(French version Jean-Stefan Bros)