Commerce and Industry Minister Piyush Goyal has said that India is keen to advance talks with the European Union (EU) towards an agreement on investment facilitation and protection for mutually beneficial outcome. The minister also emphasised on the need for proportional and simultaneous discussions on both trade and investment so that the two sides have a balanced outcome.
The Minister also called for an early harvest agreement and addressing non-tariff barriers between the two sides. He said ‘India looks forward to advance the negotiations towards an agreement between India and EU on investment facilitation and protection for mutually beneficial outcome’.
Goyal also said that India has proposed TRIPS (trade related aspects of intellectual property rights) waiver at WTO (World Trade Organisation) for a limited period so that humanity at large could have access to the COVID-19 related products, and sought the support of the EU on the issue. EU countries collectively are the largest trading partner for India, as well as one of the largest investors.