Union Minister Piyush Goyal to visit Brussels to discuss India-EU FTA, boost trade ties

In a bid to further boost commercialized and concern ties with the European Union (EU), Union Minister of Commerce and Industry Piyush Goyal is slated to sojourn Brussels, Belgium for a high-level dialogue. The dialog with Maros Sefcovic, Commissioner of the European Commission for Trade and Economic Security, volition person wide-ranging discussions connected the India-EU Free Trade Agreement (FTA) negotiations, the Trade and Technology Council model and bilateral commercialized matters, according to Ministry of Commerce and Industry.

This three-day sojourn from January 18-20 underlines the value that India attaches to its commercialized and concern ties with the EU, 1 of its largest trading partners with bilateral commercialized estimated astatine implicit $180 cardinal successful 2023-2024.

The EU is besides a important root of overseas nonstop concern (FDI), with full FDI estimated astatine $117.34 billion.

According to the ministry, the leaders are expected to sermon the planetary economical concern amid commercialized disruptions, springiness governmental directions to expedite the FTA negotiations and research a commercially significant, balanced, equitable, ambitious and mutually-beneficial FTA.

On the sidelines, the Union Minister is besides expected to conscionable Dr Ngozi Okonzo-Iweala, Director General of the World Trade Organisation (WTO), Bernard Quintin, Minister of Foreign Affairs, European Affairs and Foreign Trade of Belgium isolated from holding interactions with representatives of Belgian manufacture and Indian community.

In December past year, Goyal highlighted that India is aiming for a balanced, broad and mutually beneficial FTA with the EU.

At a gathering successful New Delhi with Ambassadors of the European Commission delegation, the curate discussed the increasing proximity and rising commercialized betwixt India and the EU.

The FTA negotiations, aft 9 rounds of aggravated engagement, request governmental directions to get astatine a commercially meaningful woody portion knowing the sensitivities of each other, helium said.
The commercialized statement with the EU would assistance India further grow and diversify its exports of goods and services portion securing the worth chains.