India-EU BTIA Negotiations are in their Final leg: Anand Sharma Government Invites Poland Companies to Invest in the Infrastructure Sector

Press Information Bureau

Government of India

Ministry of Commerce & Industry

11-July-2011 13:54 IST

India-EU BTIA Negotiations are in their Final leg: Anand Sharma Government Invites Poland Companies to Invest in the Infrastructure Sector

Shri Anand Sharma Union Minister of commerce & Industry met with the Polish Minister of Foreign Minister Mr. Radoslaw Sikorski here today. Shri Sharma during the bilateral meeting stated that, “The India-EU Broad-based Trade and Investment Agreement (BTIA) negotiations are in their final leg. Thirteen rounds of negotiations have been held so far. A meeting of the Commerce Secretary & EU’s DG Trade was held on 3rd June, 2011 at London. Both the sides have intensified negotiations with a view to closing negotiations in 2011”. These negotiations cover Trade in Goods, Sanitary & Phyto-sanitary Measures and Technical Barriers to Trade, Trade in Services, Investment, Intellectual Property Rights and Geographical Indications, Competition Policy, Customs and Trade Facilitation, Trade Defence, Dispute Settlement, Government Procurement and Sustainable Development. Negotiations are being carried out as per mandate received from TERC (Trade & Economic Relations Committee), he added.

During the meeting the Commerce Minister urged his Polish Counterpart that the issues related to India - Poland bilateral Trade and Investment cannot be isolated from the general issues which relate to Trade and Investment between EU and India. Later the Minister reflected that Poland as Presidency of the EU can play an important role in resolving several of our market access issues with the EU including in respect of arbitrary SPS standards; CCC in grapes; honey, rice, fish and fishery products etc.

Shri Sharma highlighted the excellent trade relations between the two countries which did not see a downturn even during the recessionary phase of 2008-2010. Bilateral trade between India and Poland during the last couple of years has grown with consistency. (US $ 784.57 million in 2008-09 to US $ 808.07 million in 2009-10 to US $ 771 million in the first 3 Qs of 2010-11.) Poland has in April 2011, been ranked 42nd foreign direct investors in India. Polish foreign direct investment approvals during the period April 2000 to April 2011 are at US $ 42.23 million.

Shri Sharma during the meeting informed that Poland is a major supplier of railway equipment, particularly wheels, axles and rails, as well as turbines and diesel engines to India. A number of merchant ships have also been delivered by the Gdansk shipyard. In recent years, Polish companies are providing technical services for oil and gas exploration projects in India, including Seismic Data Acquisition in the east coast of India. The Indian Minister invited Polish companies to take a closer look at opportunities unfolding in India in infrastructure development. The Ministry of Commerce and Industry along with FICCI will facilitate such ventures through ‘Invest in India’ set up since 2009.

The principal commodities of India’s exports to Poland are Transport equipment, machinery and instruments, Drugs, Pharmaceuticals and Fine Chemicals, Readymade Garments of Cotton (including accessories). Similarly, India’s imports from Poland consist of Coke and coal, Machinery and Equipments, Iron and steel, machine tools, organic chemicals and project good

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DS/GK