Local view for "http://purl.org/linkedpolitics/eu/plenary/2013-12-12-Speech-4-240-000"
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"en.20131212.43.4-240-000"2
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"Mr President, two pieces of news from the last couple of weeks. One: the European Union has now stalled its trade talks with India. No one is expecting an FTA in the foreseeable future. Two: EFTA is going all guns with its trade talks with India and expects a comprehensive commercial agreement early next year. Given that India grew at 5.4 % last year, while the EU shrank by 0.3 %, I would say that gives us a pretty serious problem and it gives us, the British, a particular problem.
No country stands to benefit so much with trade from that rising Leviathan. There are 1.4 million Britons of Indian origin. India is the fourth largest investor in the UK. We have the same business language, the same common law system, the same commercial accountancy practices, but we cannot exploit the immense benefits of South Asia as long as we are trapped by the EU’s common external tariff, required to defend a more protectionist policy than suits us, because there are cossetted industries in southern Europe that fear competition from India. An FTA works and a customs union does not."@en1
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