INDIA, EU SET TO NEGOTIATE ON 3 AGREEMENTS DURING MAY 8 VIRTUAL SUMMIT

NEW DELHI: India and the European Union (EU) are expected to launch negotiations on three agreements – on trade, investment protection and geographical indications – during their virtual summit on May 8 as part of efforts to drive economic recovery amid the Covid-19 crisis.

The two sides will unveil a connectivity partnership based on a shared approach towards transparent connectivity initiatives that respect international standards and provide fair opportunities to Indian and European companies, senior EU officials told a briefing on Thursday. This will only be the EU’S second connectivity partnership after a similar arrangement with Japan.

The heads of state or government of all 27 members of the EU are expected to gather in the Portuguese city of Porto for the virtual summit with Prime Minister Narendra Modi – only the second time such a gathering will be held following the EU’S meeting with US President Joe

The trade negotiations are being seen as a resumption of talks with India that stalled in 2013 because of differences on issues such market access for European products and mobility for Indian professionals.

“We expect the leaders to endorse the launch of negotiations on three agreements – on trade, investment protection and geographical indications and this is a major step,” said a senior EU official, adding the move would be helpful in boosting recovery from the economic fallout of the pandemic.

A second official said the talks are expected to lead to a breakthrough towards balanced, comprehensive and mutually beneficial agreements. “After almost eight years of suspension of free trade talks, we will agree to resume these and this opens up the way to a possible free trade agreement between us,” he said.

The officials described the resumption of the human rights dialogue with India after a pause of eight years as a key development in view of the EU’S commitment to human rights.