Tags: germany | india | eu | trade

India and Germany See Progress in Trade Deal

Thursday, 11 Apr 2013 09:02 AM

BERLIN — The leaders of Germany and India say progress is being made on a new free trade agreement between India and the European Union (EU), which has been in negotiations for six years.

Speaking after a joint meeting Thursday of their governments, Chancellor Angela Merkel and Prime Minister Manmohan Singh said, however, there are still issues to be ironed out.

"I believe we have taken a step forwards," Merkel said. "But we have not reached full agreement."

Germany, one of the world's largest exporters, still has worries about import duties on automobiles.

Regarding wider EU concerns on insurance sector restrictions, Singh said his Cabinet has proposed raising the permitted foreign shareholdings from 26 to 49 percent but says the measure still needs parliament's approval.

The EU is India's largest trade partner.

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The leaders of Germany and India say progress is being made on a new free trade agreement between India and the European Union (EU), which has been in negotiations for six years.
germany,india,eu,trade
131
2013-02-11
Thursday, 11 Apr 2013 09:02 AM
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