New Delhi: Rajya Sabha Deputy Chairman Harivansh conveyed a hopeful outlook on Wednesday regarding the finalization of the India-EU Free Trade Agreement (FTA), anticipating a balanced and mutually beneficial outcome that would serve as a win-win for both India and the European Union.
Harivansh shared these sentiments during a productive meeting with a parliamentary delegation from the European Parliament’s Committee on International Trade Affairs, which was led by Cristina Maestre, the INTA Standing Rapporteur for India.
During their discussion, Harivansh emphasized that India and the European Union represent two of the world’s largest and most dynamic democracies, characterized by their open market economies and diverse, pluralistic societies.
He noted the upward trajectory of India-EU relations, with both sides expressing strong confidence in the timely conclusion of the India-EU FTA.
Harivansh further elaborated that both India and the EU share a common vision for a successful FTA, which he believes will significantly strengthen their established partnership amidst the current uncertain geopolitical landscape.
Acknowledging the crucial role of the European Parliament, particularly the Committee on International Trade Affairs (INTA), in the ratification of trade agreements, Harivansh reiterated that a well-balanced and mutually beneficial FTA would indeed be a win-win scenario for both nations.
Highlighting the robust economic connections, Harivansh pointed out that the EU serves as India’s primary trade and investment partner and a vital source of technological advancements.
He further noted that the EU, as a collective bloc, was India’s largest bilateral trading partner for goods in the previous financial year.
According to an official statement from his office, the Rajya Sabha deputy chairman mentioned that several key aspects of the new strategic EU-India agenda are currently under discussion. These include the finalization of the India-EU FTA by the end of the year and the establishment of a security and defense partnership, both anticipated to be significant outcomes of the upcoming India-EU Summit.
Referencing the Joint Communication released by the EU in September, which outlined a “new India-EU Strategic Agenda” aimed at enhancing their partnership, Harivansh described it as a highly positive development.
He expressed appreciation for the ambitious goals set forth in the EU’s Joint Communication, recognizing its value in advancing the partnership across critical areas such as trade, technology, security, defense, innovation, climate action, connectivity, mobility, and global governance.
Expressing satisfaction with the positive momentum in parliamentary exchanges, Harivansh recalled the visit of an all-party parliamentary delegation to Brussels in June, which followed the terror attack in Pahalgam on April 22. He noted that the delegation had fruitful interactions with members of the European Parliament, underscoring how such regular exchanges strengthen the India-EU partnership.
The meeting occurred at a particularly opportune moment, with Union Minister of Commerce and Industry Piyush Goyal also in Brussels for discussions with his European counterparts, reinforcing the mutual commitment to advancing the India-EU partnership.
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