EU, India Discuss Trade Issues as Speculation Builds Over Negotiations Reboot

The EU and India held a stocktaking meeting in Brussels on 18 January to discuss various pending issues that have been stumbling blocks in their long-running trade talks, which have been stalled since 2013. The meeting, which reportedly addressed issues such as services market access, as well as potential tariff cuts on automobiles and wines and spirits, came amid growing speculation that the two sides may restart their negotiations for a bilateral trade deal, which if agreed would cover 1.7 billion people. The discussions were “extremely positive” India’s commerce secretary Rita Teaotia said following the meeting, in comments reported by the Hindu, adding that both sides are intent on reaching “a balanced agreement.” Troubled talks The two parties first launched talks on the bilateral free trade agreement in 2007, aiming to increase the volume of bilateral investment flows, while securing improved market access in goods, services, and public procurement, among other objectives. After 16 rounds of talks, the negotiations stalled in mid-2013, with multiple efforts since then to restart them ultimately failing to bear fruit. Plans to hold a summit between the two trading partners in mid-2015 were cancelled, leaving unclear the future of the trade talks. (See Bridges Weekly,...