19/01/2012
Despite initial hopes, the long-awaited free trade agreement (FTA) between India and the European Union (EU) is unlikely to be signed at the EU-India Summit scheduled to take place in New Delhi on 10 February. Instead, the Summit is expected to deliver yet another roadmap for the conclusion of the negotiations, which started in 2007.
In an attempt to further relations, Catherine Ashton, High Representative of the EU for Foreign Affairs and Security Policy, was in India on 16-17 January. Ashton met Indian Foreign Minister S.M. Krishna in Bangalore to set the agenda for the summit. The joint ministerial meeting they co-chaired focused on a range of issues including energy and security cooperation, climate change and the controversial EU Emissions Trading System.
The ambitious free trade deal under negotiation, to be known as the Bilateral Trade and Investment Agreement (BTIA), has the potential to inject momentum into the EU-India strategic partnership, doubling trade volume between the two sides. However, contentious issues such as government procurement, EU visas for Indian workers and tariffs have slowed down the talks. After her meeting on Monday, Asthon said that, despite the “significant progress” made in recent months, “there is more work to do” and stressed that “making the details work (…) takes time”.
Catherine Ashton also met Minister of Defence A.K. Antony to discuss and explore ways to strengthen bilateral relations in the security sector. Cyber-security, counter-terrorism and tackling piracy off the coast of Somalia were high on the agenda.
Sources:
Further reading:
- MEP demands conclusion to EU-India FTA talks