Bernd Lange, the Chairperson of the European Union Parliament’s Committee on International Trade, recently visited New Delhi. In his visit, he said that he hoped for the early conclusion of a free trade agreement between India and the European Union (EU). He also underlined that as both India and the EU have elections in 2024, it will be great to have an agreement before that election campaign will start.
A seven-member delegation of the European Parliament visited India for the first time since the Russian invasion of Ukraine on 24th February 2022. The delegation was led by the member of European Parliament Bernd Lange. In this visit, the delegation met with India’s finance minister Nirmala Sitharaman, trade minister Piyush Goyal, and other top officials.
While speaking to WION News, Bernd Lange said, “The situation now is different than we had, in our last attempt to have a trade agreement 10 years ago. We are faced with a situation in which a lot of countries are using trade in a management way, some protective measures, specifically regarding pandemics. So, I guess it’s time to rethink the relations between India and the EU as the 2 biggest democratic entities worldwide and this is also one result of my meetings here in Delhi. There is an open mind to restart negotiation in a different way between India and the EU.”
Speaking about the free trade agreement between India and EU, he said, “You in India have elections in 2024, we have a European election in 2024 so it will be great to have an agreement before the election campaigns start. So mid or end next year, as I said political will there, might be realistic.”
Bernd Lange also mentioned about the free trade agreement signed between India and Australia as a standard that can possibly be followed. He said, “There are experiences with other trade agreements, India concluded just with Australia, we are negotiating with Mexico, Chile, New Zealand, and Australia. So, there are some standards.”
It is notable that this assuring hope from the member of the European Parliament came after the western liberal media speculated various sanctions against India for its stand in the ongoing Russia-Ukraine crisis. India continued its trade relations with Russia as well as other countries including the USA. On 2nd April 2022, India decided to clear away the trade barriers while signing the India-Australia Economic Cooperation and Trade Agreement with Australia and pledged to double the bilateral trade between the two countries in the coming few years. The agreement will help in taking bilateral trade from $27 billion to $45-50 billion in the next five years.
