India and France hope that a trade agreement between India and the EU will be signed by 2024

India and France hope that a trade agreement between India and the EU will be signed by 2024

According to an official statement released on Wednesday, India and France intended to complete the proposed free trade agreement between India and the European Union by 2024. The commerce ministry stated in a statement that India and the EU (European Union) bloc will reopen FTA (Free Trade Agreement) discussions on June 17 in Brussels. The topic came up during a meeting between a French group and Som Parkash, the minister of state for commerce and industry. On Wednesday, a four-person French team led by Special Representative for Bilateral Economic Relations Paul Hermelin paid a visit to the minister of state.

Parkash highlighted India’s priorities ahead of the 12th Ministerial Conference (MC12) of the WTO (World Trade Organisation) to be held in Geneva next week. The minister also sought support of the government of France for India’s proposal seeking TRIPS (Trade related aspects of Intellectual Property Rights) waiver in view of the global fight against the Covid pandemic.

Speaking on the occasion, Hermelin said France is keen to pursue the FTA negotiations between European Union and India. ”Both sides hoped to conclude the agreement before 2024. The pact will pave the way for India to give a boost to trade with the 27-member nation EU bloc, subject to ratification by both sides including the European Parliament,” the ministry said.

He also pointed out India’s stance on WTO negotiations related to e-commerce and the moratorium on customs duties on electronic transmissions that are due to expire in the run up to the MC12.

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