Conclude EU-India FTA to counter forces of protectionism and transactionalism, says Portuguese Foreign Minister
3 months, 1 week ago

Conclude EU-India FTA to counter forces of protectionism and transactionalism, says Portuguese Foreign Minister

The Hindu  

An early conclusion of the India-European Union Free Trade Agreement is necessary to “counter” the global trends of protectionism and transactionalism, Portuguese Foreign Minister Paulo Rangel told The Hindu during a four-day visit to India. Mr. Rangel visited India during his first trip to Asia, just days after the European Union concluded talks for an FTA with the South American common market or MERCOSUR, and said that the EU-India talks for a Bilateral Trade and Investment Agreement or FTA, underway since 2007, which were relaunched in 2022, must be concluded soon as well. When asked about Mr. Goyal’s statement in October this year that the EU-India FTA had only made “marginal” progress despite nine rounds of talks due in part to the EU’s “irrational standards”, Mr. Rangel said that the situation called for “pragmatism” and an agreement to allow concessions on both sides. Apart from India, Portugal colonised Brazil and several countries in Africa, and Mr. Rangel said it had been necessary post-1974 to restart ties with India by acknowledging that “mistakes had been made”, a reference to the atrocities committed by the Portuguese empire, including the Salazar dictatorship of the previous century.

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