Negotiations on India-EU trade deal to resume next month: FM Nirmala Sitharaman

NEW DELHI:  Finance Minister Nirmala Sitharaman on Tuesday said that the stalled trade negotiation between India and European Union will resume next month during the leadership summit.  

The negotiations between India and the European Union on a free trade agreement have been stalled since May 2013, when both sides failed to bridge substantial gaps on crucial issues, including data security status for the IT sector. The negotiations with the 27-nation grouping were launched in June 2007.

During the bilateral meeting with Portugal Foreign Affairs Minister Augusto Santos Silva, Sitharaman said that resumption of formal negotiations on both trade and investment agreements at the leaders’ meeting of India and EU on May 8 in Porto, Portugal would be a notable success for the Portuguese Presidency of the Council of EU. During the meeting, she highlighted the significance of the visits between both the countries.