Export News

India has flagged non-tariff barriers being faced by its domestic industry in the European Union (EU) and emphasised the need to address long pending issues as a confidence building measure under the bilateral free trade agreement (FTA) talks, the government said Friday. The issue were discussed during a meeting between commerce and industry minister Piyush Goyal and European Commissioner for Trade and Economic Security Maros Sefcovic last night virtually. Goyal underlined that non-tariff barriers were impeding trade and emphasized the need to address long pending issues as a confidence building measure. Both sides agreed to explore a balanced, equitable, ambitious and mutually beneficial FTA,” the commerce and industry ministry said in a statement. New Delhi has been raising concerns regarding the EU’s sustainability measures, such as Carbon Border Adjustment Mechanism, Deforestation Regulation, and termed them non-tariff barriers. On October, Goyal said that the two sides have to understand, listen and appreciate each other’s sensitivities and that “extraneous” issues like labour and climate change should be discussed at international forums. Following nine rounds of intensive negotiations, FTA discussions require strategic political guidance to conclude a commercially significant and mutually beneficial agreement, with due consideration given to each side\'s sensitivities, the ministry said The tenth round of the India-EU FTA negotiations is likely to be scheduled in March in Brussels and the two sides aim to bridge their differences on issues such as rules of origin and government procurement.