You are here: Home » Current Affairs » News » National
Business Standard

India, France to hold finmin level talks to boost trade

Two sides having useful discussions on bilateral, regional, international issues of mutual interest

Press Trust of India  |  New Delhi 

Pushing for India-EU trade pact to boost their economic ties, New Delhi and Paris today decided to hold finance ministry-level talks every year for promoting bilateral trade and investment.

After a meeting between Prime Minister Manmohan Singh and visiting French President Francois Hollande, the two sides in a joint statement emphasised on further expanding their engagements in trade and investment.

The two sides had a detailed and useful discussions on bilateral, regional and international issues of mutual interest, it said.

To expand trade and investment, they decided "to promote an ambitious and balanced Free Trade Agreement between India and the EU based on reciprocity and mutual benefit which will boost our bilateral economic relationship".

India and the 27-nation bloc European Union (EU) are engaged in talks for trade pact known as Bilateral Trade and Investment Agreement (BTIA) since 2007. The talks were to conclude in 2011, but differences between the two sides on the level of opening of the market have delayed the conclusion of trade negotiations.

The BTIA is meant to open Indian and European markets for trade in goods, services and investment.

The joint statement further said that India and France decided "to establish an annual bilateral dialogue between the two Finance Ministries on economic and financial issues".

Trade between India and France was valued at USD 8.89 billion in 2011-12.

In a statement, the Prime Minister said "both President Hollande and I agreed on the need to reinvigorate our bilateral economic engagement by harnessing the enormous synergies between our two economies".

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Thu, February 14 2013. 17:48 IST
RECOMMENDED FOR YOU
.