India, European Union sell historic deal to save European exporters 4000 crores

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After nearly 20 years of negotiations, India and the European Union have signed a historic trade deal, opening up a market of 2,000 million consumers and saving European exporters €4,000 million in taxes annually.

The agreement will significantly reduce tariffs in key sectors such as the automotive industry (from 110% to 10%), machinery, chemicals, pharmaceuticals and agri-food, particularly benefiting products such as olive oil and wine.

Special attention should be paid to the exemption of sensitive agricultural products. European exports to India are expected to double by 2032.

In addition to the trade agreement, India and the EU signed a Security and Defense Agreement to strengthen cooperation in maritime security, disarmament, cyber threats and counter-terrorism.

Agreement after 20 years, India y la European Union han cerrado este martes “lthe mother of all agreements“, un mastodóntico pacto comercial que creará A market of 2,000 million consumers, it will save mass exporters €4,000 million in tariffs annually.

The deal is one of the mainstays of Brussels’ diversification strategy to offset trade aggression and Brussels’ search for new allies. Donald Trumpjunto al acuerdo comercial con Mercosur.

La grand paradoja es que ha sido el propio Trump quien ha actuado como The catalyst is clear del acuerdo comercial entre India y la UE, que ya showra claros signos de agotamiento tras tantos años de dialogo infructuoso.

La “humiliation” provokada por sus aranceles de hasta el 50% ha acabado pushing the Gobierno of India, traditional protectionist y hasta ahora orgulso de su buena relación con la Casa Blanca, a los Brazos de Bruselas, según explican fuentes comunitarias.

The deal was sealed during a visit to New Delhi by European Council President Antonio Costa, who held a summit with Commission President Ursula von der Leyen and Indian Prime Minister Narendra Modi.

“In an increasingly volatile world, Europe is betting on cooperation and strategic alliances. Today we signed the EU-India Free Trade Agreement, the mother of all trade agreements,” he noted. Von der Leyen.

“We are opening up an exclusive market for 2,000 million people to trade, invest and dramatically reduce tariffs,” Von der Leyen said.

Bruselas said it was about the most ambitious commercial opening India had ever accepted for its trading partner. Not proportional vantagea competitive significanta A key industry and agricultural sector in the EU, it gives companies privileged access to the world’s most populous country, a major economy with 1,450 million people and an annual GDP growth of €3.4 billion.

UE destaca la the most profitable sectors Industria automovilisticatariffs will be reduced from 110% to 10%, with a cap of 250,000 vehicles per year.

That’s a 44% improvement. machineryel 22% en chemical products o el 11% en pharmaceutical products.

El acuerdo eliminates or reduces unos aranceles a menudo prohibitivos (de más del 36% de media) sobre las exportaciones agroalimentarias de la UE, abriendo un mercado enorme para los agriculturists europeos, según Bruselas.

The most attractive products for Spanish exporters are olive oil (the tariff will be reduced by 45% to zero) or wine (reduced from the actual 150% to 20%).

Both parties agreed outside sensitive products. Therefore, the EU maintains the price of sensitive products such as beef, sugar, rice, chicken, milk powder, honey, platanos, soft wheat, garlic and ethanol.

Bruselas abrira contingentes arancelarios calibrados para las importaciones de carne de ovino y caprino, sweet corn, grapes, pepinos, cebollas deshidratadas, ron elaborado and molasses and almidones.

The agreement includes a bilateral defense mechanism that allows specific responses “in the unlikely event of que produzcan perturbaciones del market arising directly from the transaction.”

The EU and India trade goods and services worth €180,000 million a year, supporting 800,000 jobs in the EU. Hopefully that’s the deal Duplicate EU exports to India by 2032 here.

Meanwhile, India and the EU are pursuing a separate agreement on geographical indications (IG), which will “help more traditional EU agricultural products to be sold in India, while eliminating unfair competition from imitative forms.”

The big obstacle that has prevented closing this pact is the recognition of it Arroz Basmatiun simbolo nacional cuyo origen India reclama, pero que que Pakistan también reivindica.

India and the EU also signed an agreement in New Delhi Security and Defense AgreementIt aims to ensure closer cooperation on common priorities such as maritime security, nuclear non-proliferation and disarmament, space, cyber threats, hybrids and terrorism.

Con tal de cerrar fastamente este tratado, Bruselas will never be in Russia before Indiaalthough Von der Leyen asked Indian Prime Minister Narendra Modi to pressure Vladimir Putin to accept the ceasefire in Ukraine.

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