India open for stronger trade relations with EU, says Anurag Thakur

Union minister Anurag Singh Thakur on Thursday said India is open for stronger trade and investment with the European Union (EU).

Portugal's Minister of State for Internationalization Eurico Brilhante Dias called on Thakur ahead of the 5th Joint Economic Commission India-Portugal meeting in Delhi.

The meeting would discuss the ongoing negotiation process of trade and investment agreements between India and the EU, the Finance Ministry said in a series of tweets.

Indian and Portuguese Prime Ministers share a special bond and both nations have strong ties. India welcomes and is open for trade and investment with the EU," Thakur, the Minister of State for Finance, said.

Portugal is a member of the EU that comprises 27 nations.

The negotiations between India and the EU on a free trade agreement have been stalled since May 2013, when both sides failed to bridge substantial gaps on crucial issues, including data security status for the IT sector. The negotiations were launched in June 2007.

The EU-India annual summit is expected to be held later this year.