Awaiting India's response on dispute settlement mechanism in proposed investment protection pact: EU trade commissioner

economictimes.indiatimes.com:

European Union on Saturday said it is awaiting India's response to its proposal for setting up of a dedicated dispute settlement mechanism under the bilateral investment protection pact that is being negotiated along with an ambitious free trade agreement (FTA) by the two sides. The EU's Executive Vice-President and Commissioner for Trade Valdis Dombrovskis told a small group of journalists that both sides are engaged in «intensive» negotiations on the proposed FTA and that «progress» has been made on various issues.
But at the same time the top EU official, currently on a visit to India, noted that there is «still a lot of work ahead of us».
Asked when the FTA can be sealed, he said the main focus has been on «substance over deadlines».
To a question, Dombrovskis said there is no direct impact of New Delhi's trade ties with Moscow on the India-EU trade negotiations, adding: «In a sense, we do not see new topics emerging which could be obstacles for the FTA in this context.»
Dombrovskis also allayed New Delhi's concerns over its proposed carbon tax on imports of high-carbon goods like steel, iron ore and described it as «non-discriminatory» measure aimed at protecting the planet.
Over four months back, the European Union announced its decision to impose the carbon tax on imports on imports of steel, aluminium, cement, fertilisers and electricity as part of its Carbon Border Adjustment Mechanism (CBAM).
The CBAM that will come into effect from 2026 is aimed at achieving net zero greenhouse emissions by 2050.
«Given that the CBAM is non-discriminatory and non-trade distorted, it doesn't really affect certain countries' producers' ability to export to the EU.

And EU producers will be paying the same price. So there's not