India and the European Union on Wednesday emphasised the need to speed up the signing and implementation of a free trade agreement
India and the European Union on Wednesday emphasised the need to speed up the signing and implementation of a free trade agreement as Prime Minister Narendra Modi and the top EU leadership discussed ways to enhance cooperation in key areas such as defence and security and in shaping a resilient multipolar global order.
Modi met European Council President António Costa and European Commission President Ursula von der Leyen on the margins of the G7 Summit in the French resort town of Evian, less than five months after the two sides concluded negotiations on the FTA and finalised a comprehensive strategic agenda during a visit to New Delhi by the EU leaders.
“This has been a great time for India-EU ties as we have concluded the Free Trade Agreement,” Modi said on social media, referring to the EU leaders’ participation in this year’s Republic Day celebrations.
“During our talks, we discussed how to further deepen economic linkages in the times to come. Our growing cooperation can play an important role in strengthening peace, stability and prosperity in today’s global environment,” he said.
Costa and von der Leyen said in identical social media posts that India and the EU “have been moving fast to deliver on our commitments” after concluding the “mother of all trade deals”. The two sides will sign the free trade agreement by the end of the year, accelerate work on an investment agreement, step up security and defence cooperation, and join forces on connectivity by advancing the India-Middle East-Europe Economic Corridor (IMEC), they said.
Modi said the two sides discussed ways to deepen economic linkages. “Our growing cooperation can play an important role in strengthening peace, stability and prosperity in today’s global environment,” he said.
The leaders described the conclusion of negotiations for the FTA as a “historic achievement” and stressed its expeditious signing and implementation in order to unlock trade and investment opportunities and contribute to the diversification of supply chains amid geopolitical turbulence, the external affairs ministry said in a readout.
The leaders also discussed progress in implementing the India-EU Comprehensive Strategic Agenda finalised in January, and regional and global issues. They welcomed developments in West Asia and reiterated their shared commitment to “shaping a resilient multipolar global order” that contributes to peace, stability and sustainable development, the readout said.
Modi also held a bilateral meeting with German Chancellor Friedrich Merz on the margins of the G7 Summit to review bilateral ties and strengthen cooperation in trade and investment, defence and security, technology, sustainable development, education and mobility. The leaders welcomed the signing of the defence industrial cooperation roadmap and the operationalisation of a transit visa waiver for Indian nationals.
