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15th India- European Union (virtual) summit 

  • IASbaba
  • July 16, 2020
  • 0
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15th India- European Union (virtual) summit 

Part of: GS Prelims and Mains II – India and EU ties; International Relations 

In News: 

  • India- European Union (EU) to hold virtual summit 

Focus areas: 

  • India and EU to restart free trade agreement (FTA) negotiations – Bilateral Trade and Investment Agreement (BTIA) 
  • To conclude several agreements including – a roadmap for cooperation, an agreement on research sharing for civil nuclear cooperation and launch a maritime security dialogue as well as negotiations between Europol and the CBI. 
  • Medical developments on vaccines and treatment. 

Do you know? 

  • EU is India’s largest trading partner and investor, and accounts for 11% of India’s global trade. 
  • EU had welcomed India’s election to the UN Security Council next year. 
  • EU has reservations about the model “Bilateral Investment Treaty” (BIT) that India has proposed, especially on dispute mechanisms in Indian courts. 
  • Bilateral Trade and Investment Agreement is a Free Trade Agreement between India and EU, which was initiated in 2007.

THINK! 

  • Significance of EU to India 

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