{"id":9001,"date":"2022-06-27T13:54:51","date_gmt":"2022-06-27T13:54:51","guid":{"rendered":"https:\/\/dailyausaf.com\/en\/?p=9001"},"modified":"2022-06-27T13:54:51","modified_gmt":"2022-06-27T13:54:51","slug":"india-eu-resume-free-trade-talks-after-nine-year-gap","status":"publish","type":"post","link":"https:\/\/dailyausaf.com\/en\/world\/india-eu-resume-free-trade-talks-after-nine-year-gap\/","title":{"rendered":"India &#038; EU resume free trade talks after nine-year gap"},"content":{"rendered":"<p>NEW DELHI: India and the European Union resumed talks Monday on a free-trade deal after a nine-year gap, as Western countries seek to wean New Delhi off its close economic ties to Russia.<\/p>\n<p>Dubbed the &#8220;tariff king&#8221; by ex US president Donald Trump, India has become more open to lowering trade barriers in recent years and is negotiating pacts with several other countries.<\/p>\n<p>The Asian giant has refused to condemn Russia&#8217;s invasion of Ukraine, even increasing oil purchases from its long-standing strategic ally and biggest supplier of arms.<\/p>\n<p><em><strong>More From FactFile:\u00a0<a href=\"https:\/\/dailyausaf.com\/en\/world\/china-says-opposes-u-s-taiwan-trade-initiative.html\" target=\"_blank\" rel=\"noopener noreferrer\">China says opposes U.S.-Taiwan trade initiative<\/a><\/strong><\/em><\/p>\n<p>The European Union is India&#8217;s second-biggest trading partner after the United States but talks with the bloc broke down in 2013 over issues including tariff reductions and patent protection.<\/p>\n<p>Merchandise trade hit an all-time high of $116 billion in 2021-22, with India&#8217;s exports to the 27-member European Union hitting $65 billion, according to New Delhi.<\/p>\n<p>&#8220;Both sides are aiming for the trade negotiations to be broad-based, balanced and comprehensive, based on the principles of fairness and reciprocity. There will also be discussions on resolving the Market Access Issues which are impeding bilateral trade,&#8221; India&#8217;s commerce ministry said earlier this month when announcing the first round of talks in Delhi, which were due to run until Friday.<\/p>\n<p>India in February signed a major economic partnership agreement with the United Arab Emirates and in April agreed an interim free-trade deal with Australia, aiming to finish off a full pact by the end of the year.<\/p>\n<p>India is also in trade negotiations with Canada, Israel, and Britain. Prime Minister Boris Johnson said on a visit in April that Britain and India hoped to nail down an accord by October.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>NEW DELHI: India and the European Union resumed talks Monday on a free-trade deal after a nine-year gap, as Western countries seek to wean New Delhi off its close economic ties to Russia. Dubbed the &#8220;tariff king&#8221; by ex US president Donald Trump, India has become more open to lowering trade barriers in recent years [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":9002,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4,3],"tags":[4590,3655,6084,6083,139],"class_list":["post-9001","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-world","tag-eu","tag-european-union","tag-trade","tag-ex-us-president-donald-trump","tag-india"],"_links":{"self":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts\/9001","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/comments?post=9001"}],"version-history":[{"count":0,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts\/9001\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/media\/9002"}],"wp:attachment":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/media?parent=9001"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/categories?post=9001"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/tags?post=9001"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}