EU terms proposed CBAM as non-discriminatory between domestic and imported goods

During a conversation with Commerce and Industry Minister Piyush Goyal at the B20 India Summit 2023 in New Delhi, Dombrovskis acknowledged that while it's not easy to manage disagreements within the 27-nation bloc, there's political will to work as a European family, aiming to be a superpower with a unified market. Dombrovskis pointed out a growing consensus within the EU to strengthen ties with India, promoting supply chain diversification in the long term.

Expressing optimism over the upcoming WTO ministerial in Abu Dhabi, US Trade Representative Katherine Tai said that despite trade frictions, India's G20 Presidency theme of "One planet, one family, one future" should be kept in mind to demonstrate that like any family, countries can differ on several issues.

Tai stressed the importance of political alignment to resolve pending issues and engage with trading partners and batted for collaboration and cooperation on international fora to foster economic development that is inclusive and resilient.

Discussing the India-US trade relationship at a peak, Tai elaborated on the Indo-Pacific Economic Framework (IPEF) as a new engagement platform reflecting several global economic shifts and uncertainties arising from climate crises and digital transformations.

Even as Piyush Goyal looks for bipartisan support for trade agreements, as achieved with the Australian government and opposition, the Australian trade minister disclosed ongoing discussions regarding the second stage of the ECTA.

Additionally, Oman's trade minister, Qais bin Mohammed Al Yousef, anticipated a Free Trade Agreement (FTA) between India and the Gulf Cooperation Council (GCC). He expressed the intention to expedite discussions during the upcoming GCC meeting scheduled for the following week.