India and the EU Hopeful For Free Trade Agreement in the Coming Year

World Trade magazine reports that India and the European Union have re-ignited discussions to create a free trade agreement between the two parties. Discussions originially began in 2007, but was slowed because of differences on intellectual property rights and fusing trading best practices with climate change.

“Despite the economic slowdown, I am happy to note that trade in goods and services between India and EU has doubled over the past five years to reach almost 80 billion euros,” Singh told reporters after the meeting.

India is the European Union’s biggest trading partners, with a rise of over 29 percent within the last five years. Plans are underway to complete the agreement within the next year.

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