NEW DELHI: Prime Minister Narendra Modi on Friday said the unprecedented visit of the European Commission president and the College of Commissioners to India will conclude a long-pending free trade agreement between the European Union and India by this year’s end.
“This is not just the first India visit by the European Commission, but also its first such comprehensive engagement in any country. This is also among the first foreign visits of the Commission’s new regime,” PM Modi said.
“This is one of the early visits of the (European) Commission’s new tenure. Over two decades of strategic partnership between India and the EU is natural and organic, and in its foundation are trust and democratic values … We have had sincere and meaningful discussions, yesterday on various issues. We have asked our teams to work on a mutually benefit Free Trade Agreement and to realise it by the end of this year,” PM Modi said.
PM Modi said for sustainable and inclusive development in Indo-Pacific and Africa, together “we will work on triangular development projects”.
“Both sides have unanimity regarding the significance of peace, security, stability and prosperity in the Indo-Pacific Region. We welcome the decision of the EU to join the Indo-Pacific Oceans Initiative. For sustainable and inclusive development in Indo-Pacific and Africa, together we will work on triangular development projects,” he said.
European Commission President Ursula Von Der Leyen said India and the European Union have agreed to go ahead with a free trade agreement this year, which will be “the largest deal of this kind” in the world.
“A free trade agreement between the EU and India would be the largest deal of this kind anywhere in the world. I am well aware it will not be easy. But I also know that timing and determination count and that this partnership comes at the right moment for both of us,” Ursula Von Der Leyen, who is on a two-day visit to India, said.
“This is why we have agreed with Prime Minister Modi to push to get it done during this year. And you can count on my full commitment to make sure we can deliver,” she said.
In an oblique reference to US President Donald Trump’s high-tariff policy, Ursula Von Der Leyen said the 27-nation bloc, as well as India, are facing “geopolitical and geoeconomic headwinds” and “a more aggressive posture from major powers”.
“The EU and India have potential to be one of the defining partnerships of the century. Our partnership will be around trade and technology, security and defence, and connectivity. Batteries, pharma, chips, clean hydrogen will be among areas of focus,” she added.
