EP wants to see EU-India Free Trade Agreement signed by end of 2010
KUNA | 5 March 2009
EP wants to see EU-India Free Trade Agreement signed by end of 2010
BRUSSELS, March 5 (KUNA) — Disappointed with the slow pace of negotiations, the European Parliament would like to see a Free Trade Agreement (FTA) between the EU and India signed the end of 2010.
The EU and India launched negotiations for an FTA in 2007.
A report adopted Thursday by the EP’s Trade Committee points to the potential for an increase in EU-India trade and investment and business opportunities arising from the FTA.
Bilateral EU-India trade is expected to exceed 70.7 billion euro (USD 87 bn ) by 2010 and to 160.6 billion euro (USD 200 bn ) by 2015.
The report calls on the European Union and India to ensure that commitments under the FTA do not preclude access to essential medicines whilst India is developing its capacity from a generic to a research based industry.
