New Delhi: Progress has been carried out on the commencement of negotiating the Indian-EU free trade agreement and formal talks will begin this month, the Minister of External Affairs J Jaishankar said on Wednesday.
Overcoming the Annual Meeting of Romanian diplomacy, Jaishankar emphasizes that strategic convergence between India and the EU is reflected in their position on major regional and global problems, including in Afghanistan and the Indo-Pacific.
There is this landmark summit between Prime Minister Narendra Modi and 27 European Union leaders in Portugal and one of the important results is the resumption of FTA negotiations which remained stalled since 2013 since the previous government, he said.
“Not only that there have been some progress in that matter and actually formal talks began this month,” Jaishankar said.
India and the European Union have announced in May the resumption of talks for free trade agreements, eight years after its suspension, and agreed to launch negotiations for two main pact on investment protection and geographical indications.
“We have also agreed to conclude investment agreements, and one on geographical indicators.
India-EU connectivity partnerships are also important for the implications of bilateral, quality connotations and possibly the third country,” Jaishankar said.
By asserting that economic weight and Indian political influence have grown substantially, it shows that India is a G20 member, non-permanent member of the Security Council, from EAS, BRICS, SCO, BIMSTEC and IORA.
“So there is a long list out there.
In the area around our own, the main policy-the first to be chased since 2014 has strengthened connectivity, contacts, and trade.
India’s growth is the waves that raise a larger area in the search for prosperity,” he said.
Jaisankar said that towards Southeast Asia and so on, the ‘Act East’ policy has added security, connectivity in a greater social context against strong economic partnerships.
This is now growing into what is known as the Indo-Pacific vision that contemplates the opportunities far more smoothly, he said.
“To the West, the prospect of Link-West has truly changed our relationship with Gulf countries and made strategic construction that surpassed energy, trade and diaspora.
To the south, the ‘Maritime Sagar initiative’ has taken an integrated view of cooperation with various islands, And cruise countries, with ambitious African development partnerships and greater traces, “Jaishankar said.
“I am sure this will be considered by Romanian diplomats.
Between our national and UE involvement, there are many reasons to be optimistic about our sustainable cooperation,” he said.
Pandemic Covid-19 has clearly made all the nations in the world more aware of the risks and external vulnerability and have raised questions about the centralized aspects of globalization, and highlight the importance of trust and transparency, Jaishankar said.
The problem that has emerged strongly on the global agenda, is a requirement for a strong and reliable supply chain, he said.
India and Romania have significant convergence in our worldview and its contemporary challenges, the Minister of External Affairs confirms.