India and the European Union on Thursday doubled their commitment to negotiating a free trade deal by the end of the year after Piyush Goyal’s visit to Brussels led to “productive” talks.
Goyal is currently on a tour of three European countries. He also met his counterparts in the UK and Norway for the FTA to discuss with their respective regions.
“We are making solid progress towards a well-balanced, mutually beneficial transaction…Let’s close this transaction by the end of this year. The contract opens the market in both goods and services.”
Goyal has also pledged to conclude FTA negotiations by the end of 2025 and announced that the next round will be held in New Delhi from May 12th to 16th.
“Both sides are working to resolve pending issues… the equal focus given to tariffs, non-tariff measures in speech… We want to make market access meaningful while respecting the sensitivities the economy may have in certain sectors,” he added.
Goyal said the deal will enhance access to the market, as well as adjusting regulatory practices in India and the EU, and increasing investment. “We discussed investment and mobility to shape a ready agreement for the future,” he added.
