India asks EU nations for common stance before negotiations on FTA

New Delhi: Learning from its Asean experience, India has urged the European Union to reach an internal consensus before putting offers on the talking table for the proposed comprehensive trade and investment agreement, for which talks will start later this month. Given the diversity of the EU, India seeks that they (the member countries) should reconcile to a common position on various trade and investment issues before they come up for negotiations. India and the EU had decided in October last year to sign a trade and investment pact that would go beyond a traditional FTA.At the initial stage of negotiations both sides would exchange their wish-lists, broadly listing the items they would like the agreement to cover. India would like the pact to cover 90 per cent of trade, which was ¤40 billion in 2005. In the services pact, India will press for liberalisation of outsourcing norms and movement of professionals.