FTA with EU likely by year-end [Free Trade Agreement]

The Hindu ^ | July 22, 2012 | Special Correspondent

[SunkenCiv]

The Central government is hopeful of concluding the Free Trade Agreement (FTA) with the European Union (EU) by the end of this year.

According to Union Commerce Secretary S.R. Rao, the final leg of negotiations between the two parties is likely to be held in September. The deal was likely to be concluded as "we have closed most of the issues". India was exploring options for widening its engagement with ASEAN countries while negotiations with Pakistan on FTA were well on way.

Mr. Rao, who was talking to reporters here on Saturday, said, "They (the EU) want us to take a relook at one or two issues in view of the situation there and accordingly, we are recalibrating our approach," he said.

Biggest trading partner

The FTA is aimed at helping the growing Indian companies to expand into the EU which, according to officials, was the biggest trading partner of India buying an estimated US $ 50 billion goods and services. European Union, on its part, could access the market of 1.3 billion potential customers, predominantly youth.

The government had initiated negotiations with Australia and New Zealand for signing FTAs. The proposed negotiations with Pakistan involving officials at the Commerce Secretary level had to be postponed at the request of the neighbouring country. "The agreement between India and Pakistan will be good, hopefully," he said.

[SunkenCiv]

[datura]

They assume there will even be an EU by year’s end?

[SunkenCiv]

To celebrate, maybe pour milk all over a statue of Gomateshwara...

[SunkenCiv]

Somewhere, for one, brief shining moment, there was an EU. ;’)

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[SunkenCiv]

http://news.google.com/news/section?q=european+union&hl=en&pz=1&cf=all&ned=us&js=0

[WMarshal]

I am sure the leftism this puke received in daily doses while in college is largely to blame. Why don’t they propse “college control”?

[ravager]

What is it with you and all the milk-statue obsession on all the Indian threads?

[SunkenCiv]

I feel that there’s too much intolerance directed toward lactose. Duh!

[ravager]

Oh! And you are against all forms of intolerance I take it.

[SunkenCiv]

What is it with you and making unfounded accusations and snarky comments about me on an open thread?

[ravager]

Aww come on. Snarky? That’s bit of an overstatement. Are you sensitive?