Dr. Jasper Wieck underlined Germany’s interest in early relaunch of Free Trade negotiations between EU & India
Dr. Jasper Wieck, Deputy Chief of Mission at the German Embassy, underlined Germany’s interest in an early relaunch of the Free Trade negotiations between the EU and India. Dr. Wieck delivered a speech at a round-table organized by The Bertelsmann Foundation together with The Hindu Business Line on 25th October in New Delhi, which was attended by senior officials of Embassies of EU member states, European commission, representatives of media, think-tanks, academicians and experts.
Enlarge image Dr Jasper Wieck speaking at the roundtable (© Business Line)
The deliberations and discussions revolved around talks between India and the EU about a Free Trade Agreement, which after a break of 4 years, are expected to be pick up yet again with the scheduled meeting of chief negotiators in November.
The key results of a study on EU-India FTA presented by Bertelsmann Foundation gave a balanced insight into the projections on gains and losses resulting from the FTA for both the partners. The participants discussed various options and solutions to make a strong case for free trade and to overcome the hurdles to enable both sides to agree to a broad, comprehensive and deep agreement.
Identifying right negotiators, prioritizing areas of mutual interests, including academics, think-tanks, industry and media representatives in negotiations were some of the suggestions. The key in the success of the negotiations lies also in the right framing and presenting of the contents, which should sound appealing and convincing to the policy makers and citizens on both sides.
Dr. Jasper Wieck underlined the benefits and opportunities of free trade and open markets as well as the importance of investment protection between India and the EU, since the Indian side has cancelled the bilateral investment protection agreements in 2016. But most importantly “we should bear in mind the strategic dimension of the EU-India relationship: in times of growing uncertainties around the globe, India and the EU have a global responsibility in shaping globalization. A Broad and Comprehensive Free Trade Agreement would set norms and standards for a rules based international order” said Dr. Wieck
(© Business Line)