Deal to guard mkt access from barriers in future

New Delhi: The India-EU trade pact includes two special provisions under which, if new regulations or rules are introduced in the future that could act as a trade barrier or undermine the benefits of the deal for exporters, corrective measures can be taken by the affected nation to address such impediments, an official said.The two special market access safeguarding measures are the rapid response mechanism (RRM) and non-violation complaints (NVCs) provisions, the commerce ministry official said. Under RRM, both sides have agreed to establish a dedicated and expedited mechanism to address concerns arising from existing and future measures/regulations that create or threaten to create significant disruption or impediment to trade between the two regions.“These are to take care of new regulations, new impediments which may emerge. New rules may come up, which have concerns for the trade,” an official said. If the matter is not resolved at the official or technical level, there is an escalation mechanism at the minister's level. agencies