FTA between EU and India might take place in a year: EU

Free Trade Agreement (FTA) between European Union and India may become a reality by the end of this year, a top member of the EU parliamentary delegation, which is on a 6-day visit to India, said here on Wednesday.

Hyderabad: Free Trade Agreement (FTA)
between European Union and India may become a reality by the
end of this year, a top member of the EU parliamentary
delegation, which is on a 6-day visit to India, said here
on Wednesday.

"Our negotiators have been meeting in Brussels over the
last few weeks. Both sides are aiming to conclude an agreement
before the end of this year. We hope it will be done so by the
time of the EU-India summit in the autumn," Graham Watson,
Chair of the Delegation told media persons.

Replying to question on the areas of trade, he said EU
will focus on generic medicines and textiles from India and in
turn will share technical expertise in areas like transport
and energy.

He also said there are issues of concern to both India
and EU. They could be sorted out with FTA.

He hoped that the FTA with the EU would largely benefit
India as the EU takes 17 per cent of Indian exports whereas
India takes only 2.3 per cent of the EU’s exports.

The delegation will be on an official visit to India on
25-30 April for the first EU-India Inter-Parliamentary Meeting
after the 2009 elections in India and in Europe.

The 12-member delegation called on the AP Governor ESL
Narasimhan and Chief Minister K Rosaiah in the evening.

PTI

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