India and the European Union (EU) hope to conclude a broad-based Trade and Investment Agreement by 2008 end, Prime Minister Manmohan Singh said on Friday.
At a joint press conference at the conclusion of the 8th India-EU summit, singh said ?We are hopeful that by the time the next summit materialises, we will be in a position to conclude the agreement.?
The press conference was also addressed by Portuguese Prime Minister Jose Socrates in his capacity as President of the European Council, and European Commission President Jose Manuel Barroso. The trade agreement should be in place by the time of the next summit, Singh said. Talks between the two sides at the summit were productive, Singh said.
?The leaders noted that bilateral trade and investment between India and the EU has been growing steadily and reflects the strengthening of bilateral economic ties,? both sides said in a joint statement issued in New Delhi.
?India and the EU welcomed the progress achieved in the first few rounds of negotiations on the India-EU trade and investment agreement and reaffirmed commitment to further intensify negotiations.?
The two sides also took note of the further work of the High Level Trade Group since the last Summit when it was decided to work towards concluding a Broad-Based Trade and Investment Agreement.
They welcomed the progress achieved in the first round of negotiations on the India-EU Trade and Investment Agreement and reaffirmed commitment to further intensify negotiations.
Asserting that the successful and timely outcome of the Doha Development Agenda (DDA) multilateral trade negotiations remained their foremost trade policy priority, the two sides expressed commitment to working closely to ensure the successful conclusion of the DDA.
