Page 28 - European Union

India-EU free trade agreement negotiations make 'significant progress'

There is a significant progress in the negotiations for the proposed free trade agreement (FTA) between India and European Union (EU), an official said on Thursday. Commerce and Industry Minister Piyush Goyal was in Brussels last week to meet European Commissioner for Trade Maros Sefcovic to take stock of the progress of the negotiations. "Good progress is there on India-EU FTA. There is a significant progress in talks," the official said, without divulging more details. During the meeting between Goyal and Sefcovic, the two sides agreed to build a commercially meaningful trade agenda and work towards a mutually beneficial trade pact. The two leaders have also outlined political directions for both the teams to develop a mutually beneficial agenda for trade and investment and a robust FTA in an expedited manner to meet global challenges. The meeting came ahead of the 10th round of talks between India and the EU, which is scheduled from March 10-14 in Brussels. In the ninth round,

Europe extends hand to US President Trump, warns of 'race to bottom'

Von der Leyen did not mention Trump by name, but referred to the increasing use of sanctions

EU wants to upgrade strategic partnership with India, says President Ursula

European Commission President Ursula von der Leyen on Tuesday said the first trip of her new Commission will be to India as she wants to upgrade the strategic partnership with "the largest country and democracy" of the world. In a special address at the World Economic Forum Annual Meeting here, she said the European Commission wants to see local industries flourish in its partner countries because that is also in its own interest. "And, we have partners across the world, from Africa to Indo-Pacific," she said. "The first trip of my new commission will be to India. Together with Prime Minister Narendra Modi, we want to upgrade the strategic partnership with the largest country and democracy in the world," she declared. While European Parliament re-elected her for a second term in July last year, the new commission officially began work recently. Her present term will continue till 2029. She further said, "I believe we also strive for mutual benefits with our conversations with Chin

India to work with EU on developing modern tech, says Piyush Goyal

Commerce and Industry Minister Piyush Goyal has said that India would work with the European Union to develop cutting-edge technologies and secure critical raw material supply chains to strengthen economic ties. These issues were discussed during a meeting between Goyal and Maros Sefcovic, European Commissioner for Trade and Economic Security on January 18-19 in Brussels. The two leaders also agreed to build a commercially meaningful trade agenda and work towards a mutually beneficial Free Trade Agreement (FTA). The commerce and industry ministry in a statement on Sunday said that India would build a commercially meaningful trade agenda with the EU, which is fair and equitable, addressing the tariff and non-tariff barriers through simplification and cost competitiveness for benefits of businesses from both sides. "India would work together with the EU for developing cutting edge technologies, secure critical raw material supply chains and build resilient supply chains- reducing ...

Piyush Goyal discusses FTA with EU Commissioner during Brussels visit

Goyal is on a visit to Brussels for a High-Level Dialogue with Maros Sefcovic from January 18-20

Mexico, EU revamp trade deal before Trump takes office with tariff threats

Mexico and the European Union on Friday announced a revamped trade agreement that they said would substantially increase trade and investment, days before the inauguration of US President-elect Donald Trump, who has threatened to slap sweeping tariffs on Mexico and other trading partners. The new Global Trade Agreement between Mexico and the 27-nation bloc would reduce Mexican tariffs of agri-food imports from Europe, remove a number of barriers that would allow European companies to more easily invest in Mexico and boost Mexican exports of raw materials like fluorspar (used in electronics) as well as antimony, copper, zinc and lead. The updated deal, which first entered into force 25 years ago, also seeks to facilitate strategic cooperation on key geopolitical issues, the European Union said in a statement. We have entered a new era in our strategic partnership with Mexico today. Our upgraded agreement shows the EU and Mexico united for freer trade and an open global economy," said

India-EU FTA negotiations a tough nut to crack as key issues unresolved

A major hurdles in the way of talks has been EU's stance on sustainable development, since trade bloc is set to implement regulations such as CBAM, deforestation regulation law, and supply chain law

EU can stand up to US, China rivals with integrated energy market: IMF

Boosting Europe's economic competitiveness is a priority for the 27-nation bloc as it struggles in the race for new, climate-friendly technologies against China and the United States

Irregular migration into European Union drops 38% in 2024: Frontex report

The number of irregular border crossings into the European Union fell significantly in 2024, according to the bloc's border control agency Frontex, something which it attributed to intensified cooperation against smuggling networks. The Warsaw-based agency said in a statement that its preliminary data for last year reveal a 38 per cent drop in irregular border crossings into the 27-member bloc. The data refers to the number of detections of irregular border crossing at the external borders of the EU, not the total number of people who tried to cross. In some cases the same person may cross the border several times in different locations at the external border, Frontex notes. The agency said that there were just over 239,000 detections of irregular border crossings, the lowest number registered since 2021, when migration was lower due to the COVID-19 pandemic. The agency said that despite the overall decrease, challenges persist, including dangerous sea crossings resulting in ...

Affordable housing crisis pushes Spain to plan 100% tax on non-EU buyers

Spain is planning a raft of measures to address its brewing housing crisis, including an up to 100 per cent tax on properties that non-European Union residents buy. Spanish Prime Minister Pedro Sanchez announced the plan this week which will tackle housing affordability and high rents in the Southern European nation. He said the overall goal was to provide more housing, better regulation and greater aid. However, it remains unclear if the plan put forth by Snchez's minority coalition would pass in Parliament. Here's a look at what's happening: Spain's housing affordability crisis Like most rich countries, Spain is in the throes of a growing housing affordability problem. Skyrocketing rents are particularly acute in cities like Barcelona and Madrid, where incomes have failed to keep up, especially for young people. Housing prices are also steadily rising, especially in cities and coastal areas. Rental prices have also been driven up by short-term rentals mainly offered for tourist

EU continues to savour Russian LNG as US sanctions threaten India's imports

The US' latest sanctions on Russian energy supply chains could hit India's oil and gas imports, even as the EU nations and other American allies may face little impact

EU reassesses its probes into tech giants such as Apple, Google and Meta

The review could lead to Brussels reducing or changing the range of the probes, and will cover all cases launched since March 2024

Six EU countries call for lowering of G7 price cap on Russian oil

Price caps on Russian seaborne crude as well as refined petroleum products were set by G7 countries to curb Moscow's revenues from oil trade

Apple's revamped app fees draw increased EU scrutiny under big tech rules

The company is facing the risk of a hefty fine for thwarting efforts by third-party developers to steer users toward cheaper deals and offers outside of the App Store

Apple fights $1.8 bn app store lawsuit in UK on abuse of dominant position

The US tech company is facing a mass lawsuit brought on behalf of around 20 million iPhone and iPad users in the United Kingdom, who were allegedly overcharged for app purchases

EU ministers consider easing sanctions on Syria at meeting later in January

European Union foreign ministers will meet in late January to discuss easing sanctions imposed on Syria, the bloc's foreign policy chief said on Sunday. However, she said the move would depend on Syria's new rulers carrying out an inclusive political transition after last month's overthrow of president Bashar Assad. Kaja Kallas' comments came at a gathering of top European and Middle Eastern diplomats in the Saudi capital of Riyadh to discuss Syria's future. Saudi Arabia called for the lifting of sanctions, which threaten to undermine Syria's recovery from nearly 14 years of civil war that killed an estimated 5,00,000 people and displaced half the country's prewar population of 23 million. European countries and the US have been wary over the Islamist roots of the former insurgents who drove Assad out of power and who now lead an interim government. The former rebels have promised to hold a national dialogue summit that includes different groups across Syria to agree upon a new ...

Meta allows Facebook Marketplace users to browse eBay amid trial in EU

Meta said Wednesday that it will allow some Facebook users to view eBay listings on its Marketplace service, as it tries out a possible way to resolve European Union charges of anticompetitive behaviour that the bloc levelled last year. The social media company said it's launching a test that will let Facebook users in Germany, France and the US browse eBay listings directly on its Marketplace online classifieds service but complete the transaction on eBay. Meta is carrying out the trial after Brussels slapped the company in November with a penalty of nearly 800 million euros ($824 million) for what it called abusive practices involving Marketplace. European Union antitrust enforcers accused Meta of illegally shutting out competition by tying Marketplace to its social network and automatically exposing Facebook users to Marketplace whether or not they wanted it. They also accused Meta of gaining an unfair advantage through ad-related data. While we disagree with and continue to app

India, EU discuss protecting human rights in 11th dialogue meet in Delhi

India and the European Union (EU) on Wednesday reaffirmed their commitment to principles and values of democracy, rule of law and human rights and agreed on the need to safeguard freedom and diversity of civil society actors. The issues were extensively discussed at the 11th India-EU Human Rights Dialogue held in Delhi. The two sides discussed the issues related to civil and political rights, social, economic, and cultural rights, countering religious hatred, elimination of discrimination in all its manifestations, freedom of religion or belief, freedom of expression and opinion, both online and offline, a joint readout said. While the EU reiterated its opposition to capital punishment, India reiterated its stand on recognition of the right to development as a "distinct, universal, inalienable and fundamental human right," it said. India is among few countries that still have death penalty. "During the dialogue, India and the EU reiterated their commitment to the shared principles

EU warns of 'serious blow' to climate change policy from Donald Trump

US exit from the Paris Agreement would require other countries to double down on climate diplomacy in response

EU Council Prez speaks to PM Modi, calls India 'one of main partners'

Costa recalled his meeting with PM Modi during the Pravasi Bharatiya Divas in 2017 and expressed anticipation for the upcoming EU-India Summit, which is scheduled to take place later this year