The European Union and India have long been negotiating a trade deal, and those talks are expected to conclude with a new trade deal to be announced on Tuesday. Reuters said India’s trade secretary made the announcement about a deal both sides hailed as “historic” while they both contend with strained U.S. ties. The deal will allow for the free trade of goods between the Union, made up of 27 nations, and India, which together make up a quarter of the world’s gross domestic product and a combined market of two billion consumers. The agreement comes days after the EU signed a pact with the South American bloc Mercosur (Mer-KOH-sur) and deals with Indonesia, Mexico, and Switzerland. During the same time, New Delhi (DELL-lee) signed agreements with Britain, New Zealand, and Oman (oh-MAHN). After almost 20 years of talks, the deal opens India’s market, the world’s largest, to free trade with the EU, its largest trading partner.
Welcome
