A restart of long-stalled negotiations on a comprehensive trade deal between the EU and India was agreed during a bilateral summit hosted by Portugal.
At the summit organized by the Portuguese presidency of the European Council, Brussels and New Delhi also agreed to parallel talks aimed at achieving an investment protection agreement and a deal to protect regional speciality foods.
The moves were settled at a virtual EU-India summit on Saturday. Charles Michel, the European Council president, said the two sides were opening a “new chapter” in their partnership.
“We agreed to resume negotiations for a balanced, ambitious, comprehensive and mutually beneficial trade agreement which would respond to the current challenges,” the EU and India said in a joint statement.
“We agreed that in order to create the required positive dynamic for negotiations, it is imperative to find solutions to longstanding market access issues.”
The agenda sets out initiatives to boost ties on topics ranging from air transport to student exchanges.
Earlier efforts by the EU and India regarding a trade deal stalled despite work between 2007 and 2013, because of differences over issues including professional services and car parts.
The EU and India also struck a connectivity partnership on Saturday, aiming at co-operation in areas including digital, energy and transport infrastructure.
The two sides also want to boost regulatory co-operation on emerging technologies.
Despite the vows to deepen co-operation, the EU is resisting a push backed by countries including India for patent waivers that supportive countries argue would boost the production of Covid-19 vaccines.
India is grappling with a worsening health crisis, with more than 400,000 reported daily infections in a major second wave.
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