New Delhi [India]May 2 (ANI): Union Minister of Commerce and Industry, Piyush Goyal held an important meeting with the European Union Commissioner, Maros Sephakovic for trade and economic security in Brussels to discuss the progress of India-European Union Free Trade Agreement (FTA).
Both sides confirmed their commitment to end the long -awaited trade deal by the end of 2025.
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Goyal described the dialogue as a “highly productive”, saying that it helped re-define the India-European Union partnership.
The meeting focused on increasing market access to businesses in both regions and strengthening reliable, diverse supply chains.
The purpose of the discussion is to ensure that the FTA will not only be strategic, but will also be mutually beneficial for the sustainable development of both economies.
In a social media post on ‘X’, Goyal said, “In my highly productive dialogue with trade and economic security @marossefcovic with the Commissioner of European Union, we confirmed our shared to the end of India-European Union Free Trade Agreement by the European Union Commissioner, re-defining the India-ET Union’s partnership, by the end of 2025.
He emphasized that the settlement would promote innovation, improve competition, and support investment and mobility ready for the future between India and the European Union.
Both sides underlined the importance of a fair and comprehensive agreement that supports shared prosperity.
He also highlighted the role of the leadership of Prime Minister Narendra Modi and European Commission Chairman Ursula von Der Leyen’s leadership.
The minister said, “Both India and the European Union, led by PM @narendramodiji and EU President @vonderleyen, are committed to working towards a mutually beneficial and strategic agreement for the common prosperity and sustainable development of our regions,”.
The India-European Union FTA has been interacting for many years. If concluded, it will be one of the most important trade treaty in India, which open major opportunities for exporters, investors and workers of both regions.
The meeting at Brussels indicates a fresh push from both sides to remove the remaining challenges and finalize the agreement within the proposed time -line. (AI)
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