PM Modi, EU’s von der Leyen agree on year-end deadline for FTA, closer defence ties: Joint Statement

 New Delhi, Feb 28 (IANS) Prime Minister Narendra Modi and European Commission President Ursula von der Leyen have agreed to expedite the conclusion of the India-EU free trade agreement (FTA) by the end of the year and hold further focused discussions on the defence industry and policy to explore opportunities from new initiatives and programmes, according to a joint statement issued after the meeting between the two leaders on Friday. The leaders committed to task their respective negotiating teams to pursue negotiations for a balanced, ambitious, and mutually beneficial FTA with the aim of concluding them within the course of the year. Officials were asked to work as trusted partners to enhance market access and remove trade barriers. They were also tasked to advance negotiations on an Agreement on Investment Protection and an Agreement on Geographical Indications. The two leaders welcomed the progress made by the second ministerial meeting of the India-EU Trade and Technology Council (TTC) that took place during the visit in fostering deeper collaboration and strategic coordination at the intersection of trade, trusted technology, and green transition. The two leaders have also agreed to direct the India-EU Trade and Technology Council to further deepen its engagement to strengthen semiconductor ecosystems, trustworthy and sustainable Artificial Intelligence, high-performance computing, 6G, Digital Public Infrastructure, joint research and innovation for green and clean energy technologies with a focus on trusted partnerships and industry linkages across these sectors, including the recycling of batteries for electric vehicles (EVs), marine plastic litter, and green hydrogen. They have committed to convene the next meeting of the TTC at an early date to deepen cooperation in semiconductors and other critical technologies, the statement said. Besides, the two leaders committed to undertake concrete steps for the realisation of the India-Middle East-Europe Economic Corridor (IMEC) announced during the G20 Leaders’ Summit in New Delhi, deepen their cooperation in the framework of the International Solar Alliance (ISA), the Coalition for Disaster Resilient Infrastructure (CDRI), Leadership Group for Industry Transition (Lead IT 2.0), and the Global Biofuels Alliance. “The India-EU Strategic partnership is needed now, more than ever, to jointly address global issues, foster stability, and promote mutual prosperity,” the joint statement said. In this context, the two leaders stressed the importance of intensifying cooperation between India and Europe in trade and de-risking of supply chains, investment, emerging critical technologies, innovation, talent, digital and green industrial transition, space and geospatial sectors, defence and people-to-people contacts. They also highlighted the need to cooperate in tackling common global challenges, including climate change, the governance of Artificial Intelligence, development finance, and terrorism in an interdependent world. The leaders reaffirmed their commitment to promote a free, open, peaceful and prosperous Indo-Pacific built on international law and mutual respect for sovereignty and peaceful resolution of disputes underpinned by effective regional institutions. India welcomed the EU joining the Indo-Pacific Oceans Initiative (IPOI). Both sides also committed to explore trilateral co-operation including in Africa and the Indo-Pacific. The two leaders also expressed satisfaction at growing cooperation in the defence and security domain, including joint exercises and collaboration between the Indian Navy and EU Maritime security entities. https://en.wikipedia.org/wiki/Narendra_Modi