The European Union will strengthen its trade relations with India and plans to conclude a free trade agreement by the end of 2025, according to what the president of the European Commission Ursula von der Leyen said at a meeting with the Indian Prime Minister Narendra Modi in New Delhi.
During his opening speech, Von der Leyen pointed out how the EU and India are closer to democratic value and commercial interests, the EU being the largest trading partner in India. Additional integration and cooperation are considered essential for the block, with common views of safety, energy and technological growth. The two also discussed how to improve the exchange of labor between them for qualified workers and also possibly regulate the migration of people.
In order to further deepen this emerging relationship, the two parties have undertaken to accelerate commercial negotiations for a complete free trade agreement, as the cornerstone of the future relationship. The talks on an agreement restarted in 2021 after the collapse of the first time in 2013.
“A free trade agreement between the EU and India would be the biggest agreement in the world. I am well aware that it will not be easy. But I also know that timing and determination count, and that this partnership arrives at the right time for both of us, “said the president of the committee during his speech.
In addition, during the visit, the EU and India agreed to strengthen the EU trade and technology council in several areas, from the 6G development supply chain, to electric vehicles, to AI and green energy. As part of this joint vision, the two partners signed a memorandum of understanding on the Bharat 6G Alliance and the EU 6G Smart Networks and Services Industry Association in Telecommunications and work for another memorandum on the supply chains of semiconductors.
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