.jpeg)
European Council approves 'New Strategic EU-India Agenda', efforts underway to finalize FTA
Trade Agreement: The European Council has approved the 'New Strategic EU-India Agenda'. Efforts are now underway to finalize a Free Trade Agreement (FTA) between the two sides. According to the Council, this will give new impetus to relations between India and the European Union (EU).
The European Council has endorsed the 'New Strategic EU-India Agenda', recently tabled in the European Commission. Having been approved on Monday, the Council labeled it as a welcome move. Welcoming this initiative, the Council said it will give new impetus to relations between India and the European Union (EU). The Council statement said, "A Free Trade Agreement (FTA) between India and the EU should be balanced, ambitious, and mutually beneficial. The Council recommended that the agreement should also include provisions related to expanding market access, removing trade barriers, and sustainable development."
It is interesting to note that the "New Strategic EU-India Agenda" targets deeper bilateral cooperation in areas of prosperity and sustainable growth, technology and innovation, security and defense, connectivity, and global issues. Once approved, the Council observed that efforts to finalize the India-EU Free Trade Agreement (FTA) by the year-end are also truly exemplary.
A statement issued by the Council stated that cooperation in the field of security and defense is also crucial. In the changing geopolitical landscape, defense cooperation between India and the EU, based on mutual trust and respect, is essential. The two sides are likely to reach an agreement on security and defense partnerships, as well as defense industry cooperation, in the future.
Referring to the Russia-Ukraine conflict, the European Council stated that the EU will continue dialogue with India on this issue. According to the Council, both sides have a shared responsibility to protect the multilateral system based on the United Nations Charter and the rules-based international trade framework of the World Trade Organization (WTO).
Want to get your story featured as above? click here!
Want to get your story featured as above? click here!
The Council described the protection of democratic values, human rights, and the rights of women and children as integral to this strategic agenda. This decision follows the historic visit of the EU College of Commissioners to India in February this year. This decision is seen as a foundation for taking EU-India relations to new heights.
