Merkel, Modi discuss India-EU trade deal |
German Chancellor Angela Merkel on 6th January 2021 held a virtual summit with Indian Prime Minister Narendra Modi and discussed a host of global issues, particularly a trade deal between India and the European Union. Merkel reached out to Modi in the wake of the in-principle conclusion of EU-China Comprehensive Agreement on Investment (CAI) negotiations. The German leader explained that CAI is essentially a market access pact, and used it to harp on the necessity for an India-EU trade deal. In a free-wheeling and unstructured video-meet, Merkel sought Modi`s views on issues including Pakistan, China, incoming Biden administration as well as global trade besides the fight against the COVID-19 pandemic. Merkel explained to Modi the nature of CAI pact and expressed her surprise over attempts to pitch the EU against the US over it. The two leaders also discussed the importance of the Indo-EU trade deal as well as the Indian PM`s participation in the EU meet in Portugal this May. Merkel said she would like to hold the next round of Inter-Governmental Consultations this year, before she steps down. The agreed text of CAI only concerns market access, with investment protection still left to negotiate for a future agreement. It seeks to ensure level playing field for EU companies. Negotiations for CAI started in 2013 and went through 35 rounds. India`s Ministry of External Affairs stated that the two leaders discussed key issues including the response to the Covid-19 pandemic, bilateral ties, regional and global issues, particularly India-EU relations.
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