An investment protection pact will be included in the proposed free trade agreement between India and the EU, which will take place at high level on 14 April in Brussels. Trade and Industry Minister Anand Sharma said today that negotiations on the proposed free trade agreement between India and the EU could be concluded soon. The TPP comprises twelve member countries: Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United States and Vietnam, as shown on the map below. The TPP will cover 40% of global GDP2 and 33% of world trade. One of the EU`s main objectives in its trade relations with India is to work towards a strong, transparent, open, non-discriminatory and predictable regulatory and trade environment for European companies that trade with India or invest in India, including the protection of their investments and intellectual property. The aim is to contribute to the development of the untapped potential of two-way trade between the EU and India. Afghanistan has bilateral agreements with countries and the following blocs: Negotiations for a comprehensive free trade agreement between the EU and India began in 2007 and suspended in 2013 due to a gap in EU-India ambition. The EU remains committed to working towards an ambitious, comprehensive and balanced free trade agreement with India, which meets the best interests of each side and is a win-win. A free trade agreement is a preferential regime in which members reduce tariffs on trade between themselves while maintaining their own tariffs for trade with non-members. India`s clothing exports to free trade countries increased significantly after the signing of the Preferential Trade(PTA) Free Trade Agreements.- Full multilateral agreements (not listed below) see: List of multilateral free trade agreements. With more than 1,700 German companies operating in India, a free trade pact could help to minimize uncertainty for German investors after the end of an investment protection agreement between the two countries in 2016.
The Eurasian Economic Union, composed of Russia, Belarus, Kazakhstan, Armenia and Kyrgyzstan, has concluded free trade agreements, see below. At a press conference, Germany`s ambassador to India, Martin Ney, also said that the EU and India must “set a standard” to guide trade relations in the future if “a very political figure doubts free trade.” However, he did not mention who he meant by “political figure.” “A very political figure doubts free trade. Perhaps we should send a strong political message by resuming negotiations between the two sides, the EU and India, and by developing a strategy to manage our trade. A strategy for the development of a treaty, and that treaty is called a free trade agreement,” he said. The TTIP, once completed, will be an EPA between the United States and the 27-member European Community. The People`s Republic of China has bilateral trade agreements with the blocs, countries and their two specific administrative regions: Japanese car manufacturers are asking the government for “me too” status if it decides to reduce tariffs on cars imported from Europe under the India-EU free trade agreement. Note: Any customs union, every common market, any economic union, the Customs and Monetary Union and the Economic and Monetary Union are also a free trade area. List of agreements being negotiated.
Agreements that have so far been discussed only in the absence of formal action by the parties concerned are not mentioned. Switzerland (which has a customs union with Liechtenstein, which is sometimes included in agreements) has bilateral agreements with the following countries and blocs: Turkey has bilateral and multilateral agreements with: Germany is India`s largest trading partner in the EU and the sixth largest trading partner in the world.