MOSCOW (Pakistan Point News / Sputnik - 08th May, 2021) The European Union and India agreed on Saturday to restart the stalled free trade talks and find solutions to long-standing market access issues.
"We agreed to resume negotiations for a balanced, ambitious, comprehensive and mutually beneficial trade agreement which would respond to the current challenges," a joint statement read.
The statement was issued after Indian Prime Minister Narendra Modi spoke by video with EU leaders meeting in Portugal. European Council chief Charles Michel called the meeting a "new chapter" in EU-India strategic partnership.
The leaders also agreed to begin negotiations on a stand-alone investment protection deal and a separate pact on geographical indications, which could be integrated into the trade arrangement.
Talks on a trade pact between the EU and India broke off in 2013 amid disagreements over EU subsidies to the agriculture sector, patent protection, data security, EU curbs on the work of Indian professionals in Europe, and access to India's government procurement market.
