EU team to visit India next week for 15th round talks on trade deal

Goyal expects both sides to make substantial progress towards closure by Dec

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A team of negotiators from the European Union (EU) will visit New Delhi next week for the 15th round of negotiations for a trade deal, with commerce and industry minister Piyush Goyal expecting that both sides should make “substantial progress towards closure” by December. 

 

Goyal, who returned from a three-day visit to Brussels after holding discussions with his counterpart EU trade commissioner Maroš Šefčovič and his team, told reporters in a media briefing in New Delhi that both sides have made “significant progress” in these discussions.

 

“We have agreed to close 10 out of 20 chapters. Another 4 or 5 chapters have been broadly decided. On more and more issues, we are leaning towards convergence, so that when their team visits next week for the next round of negotiations, or the trade commissioner visits India, may be in November or sometime in December, we should be in a position to make significant and substantial progress towards closure,” he added.  

 

Leaders of both EU and India had set the December deadline to conclude the talks for a free trade agreement (FTA) in February this year during European Commission President Ursula von der Leyen’s visit to India. However, Goyal said there is no deadline to conclude the trade deal. “We never negotiate with deadlines. We get guidance from leaders but it does not mean we have to rush to conclude the trade deal anyhow. If the deal is beneficial for both sides, there will be a deal,” he added. 

 

On the contentious Carbon Border Adjustment Mechanism (CBAM), Goyal said the issue was discussed at length and India strongly put forth its point of view on the matter. Asked if consensus has been reached on CBAM, Goyal said: “It is moving in the right direction.”

 

Goyal said both sides are working towards a fair, equitable and balanced trade agreement, “recognising mutual sensitivities and strengths and working in a spirit of partnership to promote trade, investments, technology flow, mobility etc.”

 

In a press statement, the commerce department said during the negotiations, Goyal emphasised the need for preferential treatment for India’s key demands, particularly those with respect to labour-intensive sectors. “Both sides agreed to work closely to finalise the non-sensitive industrial tariff lines. They also agreed that issues related to steel, auto, CBAM, and other EU regulations still require further discussion, as these issues have higher sensitivities,” it added.  

 

Goyal said he is travelling to New Zealand on Tuesday to try and substantially conclude trade negotiations.