mr president as the commissioner has said he agrees with this resolution and it reiterates everything that the eu-india free trade agreement could encourage investment the elimination of tariffs non-tariff barriers etc
the conclusion of an ambitious fta is expected to boost bilateral trade by eur one hundred and sixty billion by twenty fifteen with key sectors seeing as much as a thirty increase in bilateral foreign direct investment
i am sure that the commissioner will agree that these are exactly the kind of figures that will help to stimulate the economy and create jobs not only throughout the united kingdom but also in india
in its initial assessment of the potential fta between the eu and india the centre for the analysis of regional integration at sussex concluded that any gains would depend on the extent to which the text identified and dealt with the key areas which the commissioner specifically mentioned such as government procurement services investment in trade facilitation etc
it states that if an agreement is largely confined to an issue of shallow integration notably the reduction of tariffs there is a strong possibility of trade diversion exceeding trade creation for both parties
the commissioner mentioned quite rightly sustainable development
i would say to you that we have to be very careful
the red lines are set as it were in tablets of stone and i hope that we will not go too far towards conceding too much
i would also agree with mr caspary on time limits
i think he put a very good point forward there
at this point i should also mention the impact of the wto doha development round on an eu-india fta
current signals from geneva have not been positive and the commissioner admitted not so long ago that the negotiations were in dire straits
now is perhaps the time he said for plan b something i hasten to add that the committee on international trade has been looking for for a long time
what effect will this have on the eu-india fta
