India looks forward to advance talks for investment facilitation pact with EU: Goyal

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April 13, 2021 8:20 PM

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.

This will usher in a lot of savings for the public exchequer and pave the way for big-ticket procurements by the petroleum and steel sectors, he added.This will usher in a lot of savings for the public exchequer and pave the way for big-ticket procurements by the petroleum and steel sectors, he added.

India is keen to advance talks with the European Union (EU) towards an agreement on investment facilitation and protection for mutually beneficial outcome, Commerce and Industry Minister Piyush Goyal said on Tuesday.

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.

Further, Goyal called for an early harvest agreement and addressing non-tariff barriers between the two sides.

He said this while addressing the ambassadors of the EU member states today.

“India looks forward to advance the negotiations towards an agreement between India and EU on investment facilitation and protection for mutually beneficial outcome,” he said.

He also informed that India has sent more than 65 million COVID-19 vaccines to over 80 countries around the world.

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.

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