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Business: The European Council has approved the ‘New Strategic EU-India Agenda’. It was recently introduced by the European Commission. After getting the approval on Monday, the council called it a positive initiative. Welcoming this initiative, the Council said, this will give new impetus to relations between India and the European Union (EU). The free trade agreement (FTA) between India and the EU should be balanced, ambitious and mutually beneficial, the council statement said. The Council said the agreement should also include provisions related to increased market access, removal of trade barriers and sustainable development.
India-EU free trade agreement by the end of this year
It is noteworthy that the ‘New Strategic EU-India Agenda’ focuses on strengthening bilateral cooperation in the areas of prosperity and sustainable development, technology and innovation, security and defence, connectivity and global issues. After approving the agenda, the Council said, especially the efforts to conclude the India-EU Free Trade Agreement (FTA) by the end of the year are commendable.
Cooperation based on mutual trust and respect
In the statement issued by the Council, it was said that cooperation in the field of security and defense is also very important. In the changing geopolitical scenario, defense cooperation between India and the EU is based on mutual trust and respect. There is a possibility of agreement between the two sides on security and defense partnership as well as defense industry cooperation in the coming time.
Work on the basis of multilateral system based on the United Nations Charter
In the context of the Russia-Ukraine war, the European Council said that the EU will continue dialogue with India on this issue. According to the Council, both sides have a shared responsibility to protect the multilateral system based on the UN Charter and the rules-based international trade framework of the World Trade Organization (WTO).
Initiative to take EU-India relations to new heights
The Council described the protection of democratic values, human rights, and the rights of women and children as an integral part of this strategic agenda. Let us tell you that this decision has been taken after the historic visit of the EU College of Commissioners to India in February this year. This is being seen as the foundation to take EU-India relations to new heights.
