Connect with us

International

The EU and India will revive stalled trade talks, the draft statement said

Avatar

Published

on


European Union flags flutter outside the European Commission headquarters in Brussels, Belgium, March 24, 2021. REUTERS / Yves Herman / File Photo

The European Union and India will agree to resume stalled free trade talks at a virtual summit on Saturday, according to a draft statement first seen by Reuters, as concerns over China’s rise bring Brussels and New Delhi closer.

The draft declaration, which is due to be signed by EU ambassadors on Wednesday and needs New Delhi approval, would tie together two of the world’s largest economies in an alliance seen as one against China.

If approved, the EU and India will say: “We agreed to resume negotiations for a balanced, ambitious, comprehensive and mutually beneficial trade agreement that would respond to current challenges,” the draft statement said.

Indian Prime Minister Narendra Modi spoke with EU Chief Executive Ursula von der Leyen on Monday about the resumption of trade talks, which have been stalled since 2013. The couple will be joined by European Council President Charles Michel and German Chancellor Angela Merkel for virtual meeting. Michel will also speak with Modin ahead of Saturday’s summit.

A 2020 study by the European Parliament set the potential benefits of a trade deal with India for the EU at 8.5 billion euros ($ 10 billion), though that was before Britain left the bloc.

Britain will begin negotiations on its trade deal with India later this year, and Modi and British Prime Minister Boris Johnson held a virtual meeting on Tuesday. Read more

India’s economic growth has overtaken China in recent years, making it an attractive market for Europe. The 27-nation bloc is India’s main export destination, accounting for about 15% of its foreign sales, according to EU data.

Although India has gradually reduced its tariffs since 1990, the EU still faces high taxes exporting crops, food, beverages and motor vehicles, areas seen as obstacles to a deal.

The talks were put on hold in 2013 as the two sides failed to overcome differences, such as over the extent of tariff cuts, patent protection, data security and the right of Indian professionals to work in Europe.

NO ‘ANTI-CHINA’

The draft declaration also lays the groundwork for an agreement for the EU and India to build joint infrastructure projects worldwide in the transport, energy and digital sectors.

The deal would follow a similar deal between the EU and Japan in 2019, seeking an alternative to Chinese birds that raised suspicions in the West and Tokyo.

“Our partnership will promote a transparent, practical, inclusive, sustainable, inclusive and rule-based relationship,” the summit draft said, in a covered critique of China-funded projects that have sent debt to several Asian countries. Central and the Balkans.

Since 2013, China has launched construction projects in more than 60 countries, known as the Belt and Roads Initiative, seeking a network of land and sea links with Southeast Asia, Central Asia, the Middle East, Europe and Africa.

The EU will also gain Indian support for its new plan to increase its influence in the Indo-Pacific region, using areas from health security to defend its interests and oppose China, although the bloc insists that its strategy its not against Beijing.

“We emphasized our commitment to a free, open, inclusive and Indo-Pacific space based on respect for territorial integrity and sovereignty, democracy and the rule of law,” the draft statement said.

Our standards: Principles of Trust of Thomson Reuters.

What Are The Main Benefits Of Comparing Car Insurance Quotes Online

LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos



picture credit

ExBUlletin

to request, modification Contact us at Here or [email protected]