India, EU To Resume Free Trade Agreement Talks From June 23

ENA Global 2024-06-07 15:24:08 New Delhi, Jun 7 (KNN) India and the European Union are set to restart negotiations for a comprehensive free trade agreement, with the eighth round of talks scheduled to commence on June 23rd, according to knowledgeable sources. The upcoming discussions are expected to address several sticking points between the two parties. A key area of contention revolves around the European Union's carbon tax policies and regulations concerning the maximum permissible levels of pesticide residues in agricultural commodities. India has persistently sought relaxation of the EU's stringent rules in this domain. Additionally, deliberations will likely encompass trade barriers pertaining to services and various non-tariff obstacles hindering the flow of goods across sectors such as agriculture, pharmaceuticals, engineering, and electrical items. India intends to take a firm stance on persistent challenges such as non-tariff barriers, stated an anonymous source familiar with the matter. He mentioned, To that end, Indian negotiators have prepared an elaborate list of roadblocks and challenges in key sectors. Defining and categorising non-tariff barriers can be complex, as certain regulations enforced by the EU, purportedly aimed at safeguarding public health and safety, are regarded as trade impediments by India. The matter centres around the EU's maximum residue level (MRL) rule, which governs the legally permissible limit of pesticide residues in food and feed products. Furthermore, the negotiations will delve into the EU's stringent safety standards for agricultural commodities and pharmaceuticals, as well as the high tariff rates imposed on various goods. Currently, exporting agricultural products to the 27-nation European Union necessitates the acquisition of a phytosanitary certificate, which verifies that the produce is free from pests, diseases, and complies with health standards, including traceability to the farm of origin. As the two economic powers seek to overcome these long-standing hurdles and forge a comprehensive trade agreement, the upcoming round of talks will be closely watched by stakeholders on both sides. (KNN Bureau) 38111 https://knnindia.co.in/news/newsdetails/global/india-eu-to-resume-free-trade-agreement-talks-from-june-23 2024-06-07 15:24:08 knnindia.co.in India, EU To Resume Free Trade Agreement Talks From June 23