Will formally launch FTA negotiations with India very soon: EU

European Union Executive Vice-President and Trade Commissioner Valdis Dombrovskis has said the EU will formally launch negotiations for the proposed free trade agreement with India "very soon". He has held a meeting with Commerce and Industry Minister Piyush Goyal on the sidelines of the WEF meet in Geneva.

"Excellent meeting with Minister Goyal @PiyushGoyal from India. Will formally launch Free Trade Agreement negotiations very soon," according to a tweet by Dombrovskis.




India's Commerce Secretary BVR Subrahmanyam in April had said that India and the 27-nation European Union (EU) will restart negotiations for their long-pending free trade agreement in June.




The proposed agreement, officially dubbed as Broad-based Trade and Investment Agreement (BTIA) between India and the EU has been stalled since May 2013 due to several issues.

BTIA is a proposed comprehensive free trade agreement being negotiated by the two sides.

India's merchandise exports to EU member countries stood at about USD 65 billion in 2021-22, while imports aggregated to USD 51.4 billion.