FTA negotiations with EU, New Zealand in last leg: Commerce Secy

New Delhi, Nov 17 (PTI) India's free trade agreement (FTA) negotiations with the European Union (EU) and New Zealand are in the final stages and are expected to be concluded soon, Commerce Secretary Rajesh Agrawal said on Monday.

An Indian team is in the UK to discuss the Double Contribution Convention (DCC) agreement, he added.

"We hope to complete it soon so that both (DCC and FTA) can be launched together," he told reporters here.

India and the UK have signed the trade pact, but it has not been implemented as it requires approval from the UK parliament.

On negotiations with the EU, Agrawal said talks are in the last phase.

"But the last phase is always hard," he pointed out.

He added that negotiations for a trade pact with New Zealand are also in the last phase.

"We hope that we will achieve closure (of the talks) in the shortest possible time," Agrawal said, adding that the last phase can be time-consuming.

Further, the secretary said negotiations with two South American countries - Peru and Chile - are also moving.

With Peru, "progress is there and we hope to see progress in this", he said, adding that negotiations with Chile are also moving at a good pace and the fourth round of talks is scheduled in December here.

With regard to the FTA review with ASEAN, he said it is a difficult review, but "we are progressing".

In December, another round of talks is likely "where we may see some more positive progress", he said.

The 10 ASEAN countries are Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.

The review of the agreement is a long-standing demand of the Indian industry, and India is looking forward to an upgraded pact, which will address the current asymmetries in bilateral trade and make trade more balanced and sustainable. PTI RR RR BAL BAL BAL