India says it supports the FTA talks with the EU after refusing to join the China-led agreement
NEW DELHI: India should hold talks with him European Union For a free trade agreement, the government said Tuesday, a day after it refused to join a regional trade pact backed by China for fear of an avalanche of cheap Chinese imports.
Minister of Commerce Piyush Goyal These sectors such as gems, textiles and agriculture have promoted a trade pact with the EU. German Chancellor Angela Merkel has also requested that talks be restarted to finalize an agreement.
We should participate in an FTA with the EU, Goyal said at a press conference in which he explained the reasons for not joining the Regional Cooperative Integral Economic Association (RCEP) that 15 nations concluded on Monday.
Goyal said that India had filed strong demands for services, investments that led to prolonged negotiations for the RCEP, which includes the association of 10 members of the Southeast Asian Nations (ASEAN), Japan, South Korea, Australia and New Zealand, in addition from China .