Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-05-09-Speech-1-133-000"
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"en.20110509.20.1-133-000"2
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"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 160 billion by 2015, with key sectors seeing as much as a 30% 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?"@en1
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