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India, EU talk restarting bilateral trade, investment pact with interim agreement
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Negotiations for a broad-based Bilateral Trade and Investment Agreement (BTIA) started in 2007 and were suspended in 2013.
At the 15th India-EU Leader’s Summit in July 2020 the two sides agreed to explore the possibility of renewing the BTIA talks and also decided to establish the HLD.
NEW DELHI: India and the European Union have discussed holding regular interactions for re-initiation of bilateral trade and investment agreements, with an interim agreement to start with, the government said on Saturday.
Commerce and industry minister Piyush Goyal and the European Union Executive Vice-President and Trade Commissioner Valdis Dombrovskis had the first High-Level Dialogue (HLD) on Friday wherein they also agreed to meet within the next three months, with an objective for reaching consensus on a host of bilateral trade and investment cooperation issues.
First India-EU high-level dialogue on trade, investment held ANI | Updated: Feb 06, 2021 10:54 IST
New Delhi [India], February 6 (ANI): The first High-Level Dialogue (HLD), co-chaired by the Minister of Commerce and Industry Piyush Goyal and the European Union Executive Vice-President and Trade Commissioner Valdis Dombrovskis, was held on Friday.
Commitment to the establishment of this Dialogue was a major outcome of the 15th India-EU Leader s Summit held in July 2020, with an objective for ministerial-level guidance towards the bilateral trade and investment relations, according to the Ministry of Commerce and Industry.
During the discussions, in the HLD, the ministers emphasized the importance of global cooperation and solidarity in a post-COVID-19 era and agreed for further deepening of bilateral trade and investment relationship through a series of regular engagements, aiming at quick deliverable for the businesses in these tough times.