EU calls to expediate free trade deal with India

March 27th, 2009 - 5:50 am ICT by IANS  

Brussels, March 27 (IANS) The European Parliament has expressed disappointment over the slow pace of negotiations on a Free Trade Agreement (FTA) with India, EuAsiaNews reported.
In a report adopted during a plenary session of the block in the French city of Strasbourg Thursday, the members expressed disappointment with the slow pace of negotiations.

The European Union (EU) and India launched negotiations on the FTA in 2007.

The Free Trade Agreement between the EU and India would improve market access for goods and services, covering all trade, except for public procurement that New Delhi is not willing to include in the deal.

British parliamentarian Sajjad Karim, who drafted the report, said he would like to see the agreement signed with India by the end of 2010.

Trade between India and the EU is expected to exceed 70.7 billion euros (about $95 billion) by 2010 and 160.6 billion euros by 2015. Bilateral trade in services is expected to exceed 246.8 billion euros by 2015, the report said.

The EU has urged India for a more open visa policy, with multiple entries and minimum one year duration, for the visiting business professionals in the country.

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