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PRESS RELEASE –
NOVEMBER 2006
Press
Releases Archive...
INDIA- EU FTA on
way-No Link with the Suspension of DOHA
Round
November 08, 2006
By
Additional Secretary, Department of Commerce
“There is a clear understanding that India and
European Union is underway and failure of Doha
round has no influence on them”. This was
stated by Dr Rahul Khullar, Additional
Secretary, Department of Commerce at an
Interactive meeting on ‘Challenges and
Opportunities from a Possible India – EU FTA’
organised by CUTS International in the capital
today.
There is no causal link between Doha talk’s
suspension and proposal to negotiate FTAs with
European Union. This is just a co incidence
that report of Indo EU High Level Trade group
came immediately after Doha suspension, Dr
Khullar added.
The FTAs are not just trade only agreements
but have a geo political foundation. The
contours of FTAs are much wider and stakes are
not merely geo commerce. As the Agreements are
entered into, there is much more to be gained
by both the parties in terms of increased
investment and trade.
This can work out as a win win situation for
both as we are talking of broad basing trade
and including goods and trade in services, TBT,
SPS, Government procurements etc. This would
however involve a mutual give and take from
both sides, Dr Khullar added.
Speaking on the occasion, Mr Francisco da
Camara Gomes, Head of Delegation of EC to
India said that FTA with EU could be
especially beneficial to India as presently,
the EU trade with India is a meagre 1-2% of
its total international trade. This leaves
enough room for increased investment from EU
in various sectors in India. At the same time,
the investment from India to EU should also
increase.
Mr
Gomes clarified that the FTA is no substitute
to multilateral negotiations under WTO but
support them. It is just a measure to support
the industry which can not wait for the WTO
talks to reach satisfactory and logical end.
Mr
Jim Rollo, Programme Director, SEI, University
of Sussex, UK briefly gave an outline of the
research project on the qualitative analysis
of a potential FTA between EU and India being
done jointly by University of Sussex and CUTS
CITEE. The aim of the study is to assess the
qualitative and sectoral aspects of the FTA
and in particular to investigate more in depth
the non tariff and regulatory issues regarding
trade in goods and services and investment.
Earlier, Mr Pradeep S Mehta, Secretary
General, CUTS in his welcome remarks said that
there are various plausible reasons for
entering into FTA with EU more because of the
impasse of Doha Round. It would reflect the
continued desire by countries to liberlise
trade with key partners and also offer the
opportunity to explore issues of deep
integration. |
