Indo-EU deal on drug seizures, FTA likely soon
30 Nov 2010
European Union trade commissioner Karel de Gucht has assured Indian commerce minister Anand Sharma that a solution to the long pending drug seizure issue will be found to the satisfaction of India.
Both leaders met at Brussels to take stock of the progress of the ongoing India EU broad-based trade and investment negotiations.
De Gutcht assured Sharma that the required statutory changes in European regulations would be made to prevent further seizure of Indian generic drugs in transit.
India and Brazil took the EU to the World Trade Organisation over the seizure of generic drugs in transit at European ports. Currently, both sides are undergoing the mandatory consultation process before a formal dispute is registered.
In October, commerce minister Anand Sharma surprised everybody by signalling that India would withdraw the case against Europe on the issue, as it has been resolved.
Later Commerce secretary Rahul Khullar clarified that the case will not be withdrawn unless EU amends its transit laws.
However, recently commerce ministry officials have indicated that the issue may soon be settled as a compromise has been arrived at.
.webp)
