Log has written
WEDNESDAY, FEBRUARY 15, 2012

Brussels: With increasing pressure on European Union (EU) to stick to a rigid stand on linking climate change and social disparity with trade, the conclusion of talks on India-EU Free Trade Agreement is set to get delayed.

“I am fully aware of India’s problems. I come from Poland where there is a difference between EU stand and interests of the country’s industries but we need to move to discuss these issues,” member of European Parliament, Lena-Kolarska Bobinska, told Indian journalists visiting the EU headquarters.

She said the EU considered India an “absolutely crucial region” not only in terms of economy but also in terms of stablization of democracy.

But, there is a need to assess the impact of the FTA on the social groups of the country, she said.

The insistence of the 27-nation bloc would delay the conclusion of the negotiations launched in 2007 for signing an FTA which is aimed at removing duty and other barriers on the India-EU trade which aggregated $73 billion in 2007-08.

India’s Commerce Ministry has been strongly opposing linking the trade with social and climate change issues, arguing these are better left to the United Nations.

Bobinska said the EU Committee on environment would be meeting next week to articulate before European Parliament expectations on the issue of climate change.

Several rounds of negotiations have not resulted in a consensus on the level of trade to be covered under the pact.

Tags - Find More Articles On:
READ MORE ARTICLES BY:
blog comments powered by Disqus
Inflation at 2-year low; risks remain
Fall increases chances of monetary easing by RBI; analysts warn macroeconomic risks could reverse trend
Home, auto and personal loans see sharp fall in growth
The year-on-year loan growth to capital-intensive industries slowed to 19.8% between December 2010 and...
Banks oppose Irda norms on retailing policies
With banks starting their own insurance ventures, non-bank promoted insurers have been finding it difficult...
Tata Motors net profit up on strong JLR sales
The company’s profit soars 41% to a record high of Rs 3,406 crore in the three months ended December
RBI warns on bad loans, but says situation not alarming
Sinha said it will be more challenging for banks to find equity investors after the stricter capital...