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CPI-M Opposes Binding Pact with E.U.

Wednesday, 08 February 2012, 19:41 Hrs

New Delhi: The CPI-M urged the Indian government not to conclude any binding agreement with the European Union (E.U.) before discussing them with Indian stakeholders.

The government should discuss the issues "with representatives of all sectors who could be adversely affected", the party said in a statement. "Before proceeding further, the CPI-M demands that the government should place on the floor of parliament a status report regarding the negotiations in this budget session."

It said the Indo-E.U. summit of February 10 was preparing to finalize the contours of the E.U.-India Free Trade Agreement (FTA). "The CPI-M expresses grave concern on the total lack of transparency regarding the negotiations that have preceded the summit. "While various assurances have been issued by the government, stating that national interests will be safeguarded, there is very little hard information available to back up such claims. "Apprehensions grow in the light of the negative experience of the India-ASEAN FTA," it said.

It said the E.U.-India FTA encompassed different sectors, including trade in agricultural and manufactured goods, services, intellectual property rights, investment and government procurement. "In each of these areas, concessions granted by the Indian government can have a deep and continuous effect on the livelihood of a very large number of people. "The E.U. is asking for a majority (over 90 percent) of tariff lines to be opened up for tariff reduction.

"Agricultural goods such as cereals, dairy, poultry, fisheries, and agro processed goods are some areas that the E.U. is understood to be targeting. "In the services sector it is targeting the retail sector, banking, financial services, insurance, postal services, and energy. "The E.U. continues to press for data exclusivity in pharmaceuticals and agro-chemicals which puts domestic industry at a major disadvantage."
Source: IANS

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