April 5, 2016 7:57 AM

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India keen to re-engage with EU on stalled FTA talks: Nirmala Sitharaman

Negotiations for the proposed free trade agreement, FTA with the European Union, EU may resume as India yesterday said it is keen to sign the free trade pact with the 28-nation bloc at the earliest. It also said New Delhi will soon approach the authority for a meeting of chief negotiators.The statement came days after the two sides failed to made the much-awaited announcement on resumption of long stalled negotiations for a free trade agreement as many bottlenecks still remain.During the 13th India-EU Summit, held after a gap of four years and attended by Prime Minister Narendra Modi and EU leaders, both the sides, however, welcomed the re-engagementof discussions for furthering the proposed pact. Union Commerce and Industry Minister Nirmala Sitharaman said that India is very keen about the agreement and wants to have the EU FTA signed at the earliest. Sitharaman said she will be writing to EU Trade Commissioner Cecilia Malmstrom to ask her to quickly arrange for meetings with our chief negotiators and theirs so that the progress on EU trade negotiation can happen rapidly. The pact is aimed at reducing or significantly eliminating tariffs on goods, facilitate trade in services and boost investments between the two sides.

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