Union Minister Piyush Goyal engaged in a video conference with European Commissioner Maros Sefcovic to discuss the India-EU Free Trade Agreement (FTA). According to an official statement from the ministry, the video conference took place at 8:30 PM on Thursday.
The discussions primarily focused on the ongoing FTA negotiations, the High-Level Dialogue, the India-EU Trade and Technology Council, and other key trade and investment matters. The ministry highlighted that the conversation aimed at advancing the India-EU trade relationship, addressing high-level engagements, and exploring strategic trade opportunities.
Following the meeting, Commissioner Sefcovic took to X (formerly Twitter) to express that the EU-India trade and investment relationship had not yet reached its full potential. He shared his satisfaction with the discussion, saying, “Glad to have exchanged views with Minister Piyush Goyal on the best way to advance our trade negotiations. An opportunity to deepen our strategic ties.”
The meeting, held on Thursday, was attended by senior officials from both sides. It marked the first meeting between the two leaders since Sefcovic took on his new role in the European Commission.
During the meeting, Minister Goyal expressed his appreciation for the re-election of European Commission President Ursula von der Leyen for a second term in July 2024. He also mentioned Prime Minister Narendra Modi’s historic third mandate, noting that the political stability on both sides would help strengthen bilateral ties amid global uncertainties.
Minister Goyal congratulated Commissioner Sefcovic on his new role and expressed confidence in their ability to work together to craft a new strategic agenda for India and the EU. The two leaders acknowledged their shared values of democracy and rule of law and agreed to explore avenues that would benefit the 2 billion people of India and the EU.
After nine rounds of negotiations, the leaders agreed that the FTA discussions require strategic political guidance to reach a mutually beneficial agreement. Goyal emphasized the importance of addressing non-tariff barriers, which have hindered trade, and suggested resolving longstanding issues as a way to build trust between both sides.
Both sides committed to exploring a balanced, equitable, and ambitious FTA. They also agreed to schedule a bilateral visit to address each other’s concerns, to be arranged through diplomatic channels at a mutually convenient time.
(With inputs from ANI)
