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Will Formally Launch FTA Negotiations With India Very Soon: EU

He has held a meeting with Commerce and Industry Minister Piyush Goyal on the sidelines of the WEF meet in Geneva.

European Union Executive Vice-President and Trade Commissioner Valdis Dombrovskis has said the EU will formally launch negotiations for the proposed free trade agreement with India "very soon".

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He has held a meeting with Commerce and Industry Minister Piyush Goyal on the sidelines of the WEF meet in Geneva.

"Excellent meeting with Minister Goyal @PiyushGoyal from India.  Will formally launch Free Trade Agreement negotiations very soon,” according to a tweet by Dombrovskis.

India's Commerce Secretary BVR Subrahmanyam in April had said that India and the 27-nation European Union (EU) will restart negotiations for their long-pending free trade agreement in June.

The proposed agreement, officially dubbed as Broad-based Trade and Investment Agreement (BTIA) between India and the EU has been stalled since May 2013 due to several issues. 

BTIA is a proposed comprehensive free trade agreement being negotiated by the two sides. 

India's merchandise exports to EU member countries stood at about $65 billion in 2021-22, while imports aggregated to $51.4 billion. 

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