Belgium Deputy Prime Minister and Trade Minister Didier Reynders feels the European Union (EU)–India Free Trade Agreement (FTA) will not only benefit companies from Belgium but also Europe and India.
He also proposed re-negotiation of the India – Belgium Double Taxation Avoidance Agreement (DTAA) to not only exchange more information about money laundering but also help sustain investments.
We have some concerns about the opening of the Indian market and also India has some concern about the European market. But, I have seen in the European Council the real determination to have an FTA with India, he further added.
He stressed that there should be commitment to abolish non-tariff barriers and other administrative barriers and there must be better access to public procurement and then some protection for intellectual property rights.
He proposed for a business conference to be held during next India-EU Summit in Brussels where Indian businessmen can discuss the future of trade relations.