Conclude EU-Indian FTA to counter the forces of protectionism and transactionalism, explains the Portuguese Minister for Foreign Affairs

The Minister of External Affairs, the Minister of External Affairs, meets Friday the Minister of Foreign Affairs of Portugal, in New Delhi | Photo credit: Ani

A first conclusion from the European Union-Union (ALE) free trade agreement is necessary to “counter” global tendencies of protectionism and transactionalism, said Portuguese Minister for Foreign Affairs Paulo Rangel The Hindus During a four -day visit to India.

The visit, the first of Mr. Rangel since the new government led by the Social Democratic Party was sworn in after the elections in Portugal in April 2024, intervened a month after Prime Minister Narendra Modi met the Portuguese Prime Minister Luis Montenegro on the sidelines of the G-20 Summit in Brazil.

In talks with the Minister of External Affairs, S. Jaishankar in Delhi, Friday December 13, 2024), Mr. Rangel discussed plans to mark 50 years of Indian-Portgals links next year, which were marred in the 1950s While India fought Portugal to regain control of its Goa control and other former Portuguese colonies. Mr. Rangel visited India during his first trip to Asia, just a few days after the European Union concluded talks for an ALE with the common market in South America or Mercosur, and said that The EU-India talks about a bilateral trade and investment agreement (BTIA) or ALE, in progress since 2007, which was relaunched in 2022, must also be concluded soon.

“When you look at a world where protectionism is gaining ground, the ability to counter this trend and align with economic terms has geopolitical value,” said Rangel The Hindus During an interview in Delhi after a meeting with trade and the Minister of Industry Piyush Goyal. “It is crucial to have an EU-Indian Ale for the benefit of the two parties. China and the United States are economic engines of the world – but the EU with South America or the EU with India will change balance in geopolitical terms, “added Mr. Rangel.

In response to a question about the impact of the entrant to world trade in world trade, he warned that “transnational diplomacy or multilateral diplomacy becomes more transaction”.

Asked about Mr. Goyal’s declaration in October this year that the EU-India FTA had only made “marginal” progress despite nine talks due in part to the “irrational standards” of the EU, Mr. Rangel said the situation required “pragmatism” and an agreement to allow concessions on both sides.

The bilateral trade of India in goods with the EU was $ 137.41 billion in 2023-24, making it the largest trading partner in India for goods. India trade with Portugal represents only $ 1.2 billion, and the Portuguese Foreign Minister said that Mr. Goyal and he had discussed the next cycle of official commercial talks to be held in January 2025 in Lisbon.

He said that if India and Portugal had major disparities in terms of size, they shared a common approach to multilateralism and the strengthening of the United Nations. He also reaffirmed Portugal’s support for members of India to the United Nations Security Council, as well as members of Brazil and African States, and a reform of the United Nations system which had been “frozen in circumstances From the situation of the post-second world war for a lot also a lot for good, as long as long “.

Until 1961, Portugal controlled Goa, Daman, Diu, Nagar Haveli and a few other regions in India until it was ousted by the “Vijay operation” of the Indian army. In addition to India, Portugal colonized Brazil and several African countries, and Mr. Rangel said it was necessary to restart links with India by recognizing that “errors had been committed”, a Reference to the atrocities committed by the Portuguese Empire (1505-1961), including the dictatorship of Salazar from the previous century. Mr. Rangel went to Goa on Saturday December 14, 2024) before his departure on the same day.

“Errors have been made and we must admit it, but it is necessary to see our common legacy, culture and language that enrich us, especially as we see with Goa,” he said. “We have done so in the past 50 years, and we have so much room to improve our cultural ties between Portugal and India … Two cultures that have a 500 -year history,” said Rangel.