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Events to watch out for in June: OPEC meet, India-EU trade talks and more

Events to watch out for in June: OPEC meet, India-EU trade talks and more

Featuring: India-EU FTA talks, PM Narendra Modi's visit to Bangladesh, WTO trade ministers' meeting and OPEC meet.

Trade Minister Nirmala Sitharaman Trade Minister Nirmala Sitharaman

Events to watch out for in June:

Desperately Seeking FTA

What: India-EU FTA Talks
When: June
What to look for: Trade Minister Nirmala Sitharaman will meet her counterpart EU Trade Commissioner Cecilia Malmstrom in a bid to break the deadlock over the long-delayed free trade agreement. India is seeking greater flexibility in the movement of skilled professionals, without restrictions such as their experience in the field. India also wants the EU to declare the country data-safe, which will help Indian information technology and outsourcing companies. India may be willing to accommodate demands to lower tariffs for automobiles, wines and spirits.

Bangladesh Beckons

What: Modi visit to Bangladesh
When: June 6-7
What to look for: Prime Minister Narendra Modi is expected to flag off a third bus service between the two countries connecting Bangladesh capital Dhaka with Shillong in Meghalaya and Guwahati in Assam. West Bengal CM Mamata Banerjee will accompany Modi on the visit where the two countries are likely to sign a land boundary agreement and may discuss a water-sharing pact.

Trade Talks

What: WTO trade ministers' meeting
When: June 4-5
What to look for: The meeting of trade ministers of key World Trade Organization member-countries, on the sidelines of the Organisation for Economic Co-operation and Development meeting, will discuss the pending issues of the Doha round and finalise the agenda for the Nairobi ministerial meeting in December. India will bring back issues related to the long-stalled Doha Round including agriculture (export subsidies, cotton and fishery subsidies), market access and services.

Oil Economics

What: OPEC Meet
When: June 5
What to look for: The Organization of the Petroleum Exporting Countries (OPEC) is unlikely to implement a production cut at the meeting, according to Iran's Deputy Oil Minister Rokneddin Javadi. Iran, along with Venezuela, has called for OPEC to cut output to shore up low prices. Javadi's comments signal that the group is unlikely to agree to a reduction, especially after its current strategy has succeeded in curbing non-OPEC output and allowed OPEC to regain market share. OPEC, led by Saudi Arabia, decided in November to maintain output and keep global markets amply supplied so that low prices would force high-cost US shale oil producers to cut output.

Published on: May 30, 2015, 5:37 PM IST
Posted by: Gaytri Madhura, May 30, 2015, 5:37 PM IST