April 4, 2011 12:55 PM

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India, EU chief negotiators talk Bilateral Trade, Investment Agreement

The chief negotiators of India and the European Union on Monday kicked off the two day meeting in New Delhi to conclude talks for a proposed market opening pact this year. Official sources said, that India's chief negotiator and Special secretary in the commerce ministry P K Chaudhary and EU Chief Negotiator Ignacio Garcia Bercero are participating in the talks. Both the sides are aiming to conclude the talks for Bilateral Trade and Investment Agreement this year. This will open commerce in goods, services and investment. Later, Commerce Secretary Rahul Khullar is expected to meet his EU counterpart in Brussels on the 7th and 8th of this month. AIR correspondent reports that European Union is India's largest trading partner and the bilateral trade in 2009-10 aggregated to 75 billion US Billion dollars. The bilateral trade is expected to double to exceed 207 billion US dollars by 2015, if the trade pact is in place. India has implemented free trade agreements with the ASEAN, South Korea and Singapore. In February, two major pacts with Japan and Malaysia were signed.

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