German Ambassador to India Martin Ney today said that the second stock-taking pre-negotiation meeting on Free Trade Agreement (FTA) will be held in Brussels next week.
"We had a first stock-taking meeting in Delhi in January. There will be a second stock-taking meeting, pre-negotiation, in Brussels next week," he told reporters on the sidelines of the Regional members Meet 2016, organised by Indo-German Chamber of Commerce here.
Ney said he was very hopeful that the negotiations would resume as soon as possible because he felt the Indian economy would progress due to FTA with the European Union.
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"I am very hopeful that the negotiations will be resumed as soon as possible because this is my argument that the Indian economy will progress substantially from a FTA with a EU because it will increase the competitiveness of the Indian economy," he said.
The Indian government has been trying to pursue FTA across various regulatory bodies in European Union (EU), but the negotiations had hit a roadblock.
India, last August, had put off its negotiations for FTA with EU following an import ban imposed by EU on 700 drugs tested by Hyderabad-based GVK Biosciences.
But on Oct 5 2015, the issue came up for discussion during German Chancellor Angela Merkel's meeting with Prime Minister Narendra Modi.
Ney said Commerce and Industry Minister Nirmala Sitharaman has ensured that India is open for negotiations on the issue.
"During the meeting with Minister Sitharaman, she has ensured that India is open for negotiations on FTA," he said.
The issue had come up for discussion during German Chancellor Angela Merkel's meeting with Prime Minister Narendra Modi in October in Delhi.
