Ursula von der Leyen with PM Modi
NEW DELHI: India and the European Union are hopeful that their free trade agreement will soon be finalised, the ministry of external affairs said on Friday.
MEA’s Secretary (West), Tanmaya Lal, said that during the visit of the College of Commissioners led by the President of European Commission, Ursula von der Leyen, she and Prime Minister Narendra Modi decided to direct their teams to finalise the India-EU FTA within this year.
During the recent visit of the College of Commissioners led by the President of European Commission, Ursula von der Leyen, both the leaders had decided to direct their teams to finalise the India-EU FTA within this year. The directions have been very clear. The negotiations have been ongoing and both teams are taking the process forward strongly. We are very hopeful that the FTA will be finalised soon,” Lal said.
Ursula von der Leyen arrived in India in February, this year, and held a meeting with PM Modi. They committed to task their respective negotiating teams to pursue negotiations for a balanced, ambitious, and mutually beneficial FTA with the aim of concluding them within the course of the year, recognizing the centrality and importance of growing India-EU trade and economic relations.
The leaders asked the officials to work as trusted partners to enhance market access and remove trade barriers. They also tasked them to advance negotiations on an Agreement on Investment Protection and an Agreement on Geographical Indications.
Earlier, EU ambassador to India Herve Delphin said that India-EU free trade agreement negotiations are gaining momentum due to the current global situation, and while US reciprocal tariffs bolster the ongoing discussions, they won’t be the determining factor.
Responding to queries about meeting the deadline despite disagreements on automobile, wine and spirits import duties, Delphin highlighted the strong political commitment and determination between India and EU to finalise the agreement.
He said, “We would like to see the fruits of the harvest by the end of the year and the next India EU summit. This is what both Leaders have expressed during the recent College’s visit. The political level is fully engaged with regular contacts at ministerial level.”
He noted positive progress in recent discussions. German ambassador Philip Ackermann had previously indicated to TOI that March negotiations were more encouraging than earlier rounds.
