India and European Union (EU) formally launched negotiations on a broad based Bilateral Trade and Investment Agreement in Brussels, yesterday.
The Indian delegation was led by Commerce Secretary Shri G.K. Pillai and the EU delegation was led by Mr. Davis O'Sullivan, Director General, European Commission.
The following is the joint statement issued at the launch of negotiations:
“On 28th June 2007, the EU and India began negotiations on a broad-based bilateral trade and investment agreement in Brussels, Belgium."
"These negotiations are pursuant to the commitment made by political leaders at the EU-India Summit held in Helsinki on 13 October 2006 to move towards negotiations of a broad-based trade and investment agreement."
"There has already been significant preparatory work. The EU-India High Level Trade Group has been preparing the ground for these negotiations since October 2005 and its report will form the basis for further deliberation."
"The EU and India expect to promote bilateral trade by removing barriers to trade in goods and services and investment across all sectors of the economy."
"Both parties believe that a comprehensive and ambitious agreement that is consistent with WTO rules and principles would open new markets and would expand opportunities for EU and Indian businesses."
"The EU and India are important trading partners and committed proponents of the multilateral system. Both reiterated their belief in the primacy of the multilateral trading system and reaffirmed their commitment to the DDA round of negotiations”.
Press Information Bureau Government of India
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