Portugal also hoped for an early conclusion of negotiations for India-EU Broad-based Trade and Investment Agreement (BTIA) and expressed eagerness to sign Bilateral Investment Protection Agreement with India, the model text of which is currently being reviewed by the Indian Finance Ministry.

Portugal’s Foreign Affairs Minister Paulo Sacadura Cabral Portas met the Indian Commerce and Industry and Textiles Minister Anand Sharma here on Tuesday.

Sharma told Portas : “intensive engagements on part of the two sides are a reflection of their desire to finalising a balanced trade agreement at the earliest. However, ambitions have to be balanced and tempered and a sequential approach has to be followed to ensure early closure of negotiations”.

Sharma further conveyed to the Portuguese Minister that the agreement will lead to an increase in the opportunities for market access in both goods and services for both sides. The India-EU BTIA negotiations are underway with fifteen rounds having been completed, with the last meeting at the chief negotiators level being held on January 29-30 this year in New Delhi. The Ministerial level talks are likely to take place next month.

Portas wanted to know the current status of Bilateral Investment Protection Agreement (BIPA). Sharma informed him that the Indian Finance Ministry was presently engaged in reviewing the model text.

Both India and Portugal are working towards the conclusion of the Agreement on Visa Free Travel for Diplomatic/Official Passport Holders.
“Such an agreement would be useful for both sides for facilitating official level exchanges between the two countries,” said Sharma.

On the issue of business visa, Sharma proposed that apex business chambers of both the countries should be empowered to endorse business visa application which should be honoured by the authorities for grant of long term business visas.

On Monday Portas met the Indian External Affairs Minister Salman Khurshid who thanked Portugal for helping in extradition of the fugitive, Abu Salem wanted in connection with criminal cases dating back to the 1993 Mumbai blasts. He assured his Portuguese counterpart that India will remain compliant with the expectations of Portugal’s system and judiciary on the issue of the gangster Abu Salem

Also on Monday a Bilateral Social Security Agreement (BSSA) was signed by the Minister of Overseas Indian Affairs, Vayalar Ravi and the visiting Portuguese Foreign Affairs Minister . Paulo Sacadura Cabral Portas.

Speaking on the occasion, Ravi said about 75,000 Indians were living in Portugal, mostly working as professionals and some of them were self-employed. The Bilateral Social Security Agreement is significant requirement from the futuristic point of view to take advantage of the emerging employment opportunities and to further strengthen the trade and investment between the two countries.

The Social Security Agreement signed between the two countries will enable Indians working in Portugal on short-term contract exemption up to five years for payment of social security contribution needed to be paid under the Portuguese law by the detached workers provided they continue to make social security payment in India.

This benefits will also be available even when an Indian company sends its employees to Portugal from a third country.

Indian workers shall be entitled to the export of the social security benefit if they relocate to India after the completion of their term in Portugal.

The self-employed Indians in Portugal would also be entitled to export of social security benefit on their relocation to India.

The period of contribution in one contracting state will be added to the period of contribution in the second contracting state for determining the eligibility for social security benefits.

India has so far signed the SSA with 17 countries namely Belgium, Germany (Social Insurance), Switzerland, France, Luxemburg, The Netherlands, Hungary, Denmark, Czech Republic, South Korea, Norway, Germany (Comprehensive SSA), Finland, Canada, Japan, Sweden and Austria.