After years of negotiations for a India-EU Free Trade Agreement (FTA), Prime Minister Narendra Modi and the president of the European Commission, Ursula von der Leyen, finally established a deadline, at the end of this year, for a balanced agreement, ambitious and mutually beneficial, in a significant conclusion of the visit of the EU leader.
Describing the Indian Association -as natural and organic, one that is based on shared democratic confidence and democratic values, Modi announced that both leaders asked their teams to end before the end of the year what would be, according to von der Leyen, the greatest treatment of its kind in the world. The leaders asked officials to work as trusted partners to improve market access and eliminate commercial barriers, according to a joint statement.
India and the EU will celebrate the tenth round of TLC negotiations in March since the conversations were relaunched in 2021. Agree that the meeting will not be easy, von der Leyen said that the moment and determination are important. The EU officials reiterated after the meeting that will continue to seek the reduction of tariffs by India in wines and cars, without which the agreement will not be possible, but said that the commitment is important at the political level.
Modi also said that to strengthen the investment framework, leaders discussed progress in ongoing discussions for an investment protection agreement and a GI agreement (geographical indications) this year. They agreed to take concrete measures to carry out the initiative of the East-Europe economic corridor of India-Middle, with modi saying that it will boost global trade, sustainable growth and prosperity in the future.
Although there was talk about the improvement of cooperation in AI, semiconductors and space, both leaders also focused on peace and security in the Indo-Pacific, agreed to work for inclusive development in third countries of the region. In a joint statement, they reaffirmed their commitment to promote a free, open, peaceful and prosperous Indo-Pacific based on international law and mutual respect for sovereignty. Modi welcomed the EU that joined the initiative of the Indo-Pacific Oceans (IPOI).
In his media statement, the president also said that his visit was held at a time when the 7 planets in the Solar System had entered into perfect alignment. “They say this indicates transformation and growth. The planets are aligned, and they are also Europe and India, ” he said.
The joint statement said that the leaders expressed satisfaction with the growing cooperation in the Domain of Defense and Security, including joint exercises and collaboration between maritime security entities of the Indian Navy and the EU. The EU side also welcomed India’s interest in joining projects under the permanent structured cooperation of the EU (Pesco) and in the negotiation of an Information Security Agreement (Soia). Citing threats from authoritarian states, von der Leyen said that now it is time to intensify the cooperation of security and defense on land, in the sea and in space and have more joint exercises in the Indian Ocean.
The leaders also promised to explore a formal security and defense association. “They reiterated their commitment to international peace and security, including maritime security by addressing traditional and non -traditional threats to safeguard trade and marine communication lanes,” said the statement.
Modi said leaders have prepared a plan for collaboration in the areas of commerce, technology, investment, innovation, green growth, security, skill and mobility.
“Our growing cooperation in issues related to defense and security is a symbol of our mutual trust. We will advance our cooperation on cyber security, maritime security and against terrorism, ” said Prime Minister, and added a bold and ambitious road map will be launched at the Indian Summit-EU at the end of this year. The leader emphasized in the joint declaration the need for a stronger international cooperation to combat terrorism, including cross -border terrorism and terrorist financing in an integral and sustained way.