Piyush Goyal flags trade barriers in first meet with EU trade chief

Commerce and Industry Minister Piyush Goyal held his first virtual meeting with the new European Union (EU) trade commissioner, where he flagged that non-tariff barriers were “impeding” trade between both sides.

 

During the meeting, Goyal also emphasised the “need to address long-pending issues as a confidence-building measure”, an official statement from the department of commerce said on Friday.

 

“This conference — the first introductory meeting between the two leaders after the assumption of charge of the new European Commission of the European Union (EU) — was convened to discuss India-EU Free Trade Agreement (FTA) negotiations, High-Level Dialogue, India-EU Trade and Technology Council, other high-level engagements & trade and investment issues,” the statement said.

 

With President Ursula von der Leyen elected for a second mandate by the European Parliament in July and India’s Prime Minister Narendra Modi given a third mandate by the people of India, there will be “continuity and stability”, and both sides will “strive to deepen the relationship amidst growing uncertainty and turbulence”, it said.

 

Following nine rounds of intensive negotiations since June 2022, FTA discussions require “strategic political guidance” to conclude a “commercially significant and mutually beneficial agreement”, with due consideration given to each side's sensitivities, the statement further said.

 

The two leaders also decided to schedule a bilateral visit to understand each other's sensitivities and concerns at a date convenient to both sides, through diplomatic channels.