Both the EU and India have agreed to resume long-stalled talks on a broader trade deal in a bid to boost their economic engagement and respond to China’s growing power.
Brussels and New Delhi also agreed in parallel talks aimed at achieving an investment protection agreement and an agreement to protect regional specialty foods.
The Come on The virtual EU-India summit was concluded on Saturday and presented an attempt to deepen relations after the Kovid-1p epidemic hated global development. European Council President Charles Mitchell said both sides were trying to open a “new chapter” in their partnership.
“We have agreed to resume negotiations for a balanced, ambitious, comprehensive and mutually beneficial trade agreement, which will respond to the current challenges,” the EU and India said in a six-page joint statement. “We agree that it is important to find a solution to the long-term market access problem in order to create the positive dynamics needed for negotiations.”
The agenda sets out a plethora of initiatives to enhance relationships on a variety of topics, from air transport to student exchanges. The detailed program comes at a time when post-Brexit Britain is also investing heavily in diplomatic efforts to forge closer ties with New Delhi.
The dialogue between the EU and Indian Prime Minister Narendra Modi, held via video conference on Saturday, has given new impetus to Beijing’s growing power and the need to respond to its arrival.
EU-China relations have become increasingly tense and raised questions about the future of investment partnerships that received political support last year. In March, the EU joined Western partners in imposing sanctions on Chinese officials for human rights abuses. Beijing has responded to sanctions by European officials and politicians.
Brussels believes that India The drawn decision A window was opened last year to negotiate a China-backed trade deal, as New Delhi hunts for alternative partners. But the EU and India will face a final battle if they want to reach a comprehensive trade deal after the previous setback of the talks.
The first attempt by the EU and India was delayed despite work between 2007 and 2013 due to differences between issues including professional services and vehicle parts. From Scott whiskey to data protection standards, there are other controversial issues.
The EU and India also attacked Connection partnership Saturday, targeting cooperation in areas including digital, energy and transportation infrastructure. Both sides want to increase regulatory cooperation in emerging technologies.
Despite promises to strengthen cooperation, the EU is resisting pressure from countries, including India, to grant patent waivers, with allies arguing that it would increase production of the Covid-19 vaccine. Modi is under intense pressure at home as the country faces a growing health crisis, with more than 400,000 infections reported daily in the brutal second wave.