India, EU agree to double trade to 100 bn euros (Second Lead)

September 29th, 2008 - 7:59 pm ICT by IANS  

Manmohan SinghMarseilles, Sep 29 (IANS) India and the 27-nation European Union took their multifaceted ties to new heights by agreeing to double the bilateral trade to 100 billion euros (around $145 billion) in another five years and to clinch a landmark free trade agreement (FTA) by next year.”We have accelerated negotiations for a bilateral free trade agreement,” French President Nicolas Sarkozy told reporters at a joint press conference with Prime Minister Manmohan Singh and president of the European Commission Jose Manuel Barroso.

Alluding to growing convergence of views on a wide range of issues like climate change, nuclear non-proliferation, the Iran nuclear dispute and the global financial crisis, Sarkozy underlined that India and the EU would join hands to address these issues.

“World needs India to fight climate changes,” Sarkozy said.

Manmohan Singh said: “We have agreed to double our bilateral trade to 100 billion euros in another five years.”

The prime minister underlined the values and interests that bind Indian and the EU.

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