Efforts to reboot India-EU FTA are in a limbo after the planned April summit was cancelled. Indian Foreign Secretary Kanwal Sibal is however of the opinion that cancellation could be in benefit of discussion as it could allow negotiators to narrow differences.
Negotiations for the bilateral trade agreements first commenced in 2007 and even after seven rounds of talk there is still no consensus on broad ranging of issues. The renewed urgency in finishing talks could be attributed to the recent boom in trade between India and EU28. According to EU statistics, between 2003 and 2013, bilateral trade nearly tripled from €28.6 billion to €72.7 billion.
Change in leadership on both sides could also be credited for the recent push, with observers counting on Modi’s ability to get things done and leave behind the issue of Italian Marines case, which was one the leading factor for drop in a momentum of talks in 2013.
The gLAWcal Team
Thursday, 19 March 2015
This news has been realized by gLAWcal—Global Law Initiatives for Sustainable Development in collaboration with the University Institute of European Studies (IUSE) in Turin, Italy and the University of Piemonte Orientale, Novara, Italy which are both beneficiaries of the European Union Research Executive Agency IRSES Project “Liberalism in Between Europe And China” (LIBEAC) coordinated by Aix-Marseille University (CEPERC). This work has been realized in the framework of Workpackages 4, coordinated by University Institute of European Studies (IUSE) in Turin, Italy.