External Affairs Minister S Jaishankar negotiated terms with EU foreign affairs chief Josep Borrell with a focus on the implications of the Ukraine crisis and the resumption of negotiations between India and the European Union for a long-pending free trade pact.
External Affairs Minister S Jaishankar on Thursday held talks with EU foreign affairs chief Josep Borrell with a focus on the implications of the Ukraine crisis and the resumption of negotiations between India and the European Union for a long-pending free trade pact.
The meeting took place in Bali on the sidelines of a conclave of foreign ministers of the G20 nations.
"Good meeting with EU HRVP @JosepBorrellF. Discussed the Ukraine conflict and its impact on the global situation. Recognized the progress in our bilateral engagement, including FTA negotiations. Agreed to remain in touch," the external affairs minister tweeted.
Jaishankar and Borrell are understood to have held a detailed discussion on the global food and energy crisis triggered by the conflict in Ukraine. Ukraine is a major producer of wheat and the halt in its exports of the staple food has resulted in its shortage.
The Western countries are gradually bringing down their energy purchases from Russia following its attack on Ukraine. The decision by the West to reduce dependency on Russian fossil fuel has put a strain on the global energy market.
Jaishankar and Borrell also discussed the resumption of negotiations for the free trade agreement (FTA).
India and the European Union last month finally restarted the talks for the FTA after a gap of over eight years.
The negotiations for the ambitious pact were suspended in 2013 after several rounds of talks spanning six years.
Launched in June 2007, the negotiations for the proposed agreement have witnessed many hurdles as both sides had major differences on crucial issues.
The talks were stalled after the two sides failed to iron out differences related to tariffs on certain goods and the movement of professionals.
Besides demanding significant duty cuts in automobiles, the EU wanted tax reduction in wine, spirits, and dairy products, and a strong intellectual property regime.
In April, EU Ambassador to India Ugo Astuto said India and the European Union are eyeing to firm up the comprehensive trade and investment pact before the commencement of electoral cycles on both sides in 2024.
External Affairs Minister S Jaishankar on Thursday held talks with EU foreign affairs chief Josep Borrell with a focus on the implications of the Ukraine crisis and the resumption of negotiations between India and the European Union for a long-pending free trade pact.
The meeting took place in Bali on the sidelines of a conclave of foreign ministers of the G20 nations.
"Good meeting with EU HRVP @JosepBorrellF. Discussed the Ukraine conflict and its impact on the global situation. Recognized the progress in our bilateral engagement, including FTA negotiations. Agreed to remain in touch," the external affairs minister tweeted.
Jaishankar and Borrell are understood to have held a detailed discussion on the global food and energy crisis triggered by the conflict in Ukraine. Ukraine is a major producer of wheat and the halt in its exports of the staple food has resulted in its shortage.
The Western countries are gradually bringing down their energy purchases from Russia following its attack on Ukraine. The decision by the West to reduce dependency on Russian fossil fuel has put a strain on the global energy market.
Jaishankar and Borrell also discussed the resumption of negotiations for the free trade agreement (FTA).
India and the European Union last month finally restarted the talks for the FTA after a gap of over eight years.
The negotiations for the ambitious pact were suspended in 2013 after several rounds of talks spanning six years.
Launched in June 2007, the negotiations for the proposed agreement have witnessed many hurdles as both sides had major differences on crucial issues.
The talks were stalled after the two sides failed to iron out differences related to tariffs on certain goods and the movement of professionals.
Besides demanding significant duty cuts in automobiles, the EU wanted tax reduction in wine, spirits, and dairy products, and a strong intellectual property regime.
In April, EU Ambassador to India Ugo Astuto said India and the European Union are eyeing to firm up the comprehensive trade and investment pact before the commencement of electoral cycles on both sides in 2024.