India and EU Reaffirm Commitment to WTO Reforms and Accelerate India-EU FTA Negotiations
India and the European Union (EU) have reaffirmed their commitment to collaborate on reforms within the World Trade Organization (WTO). During a bilateral meeting between Piyush Goyal, Union Minister for Commerce & Industry, Textiles, Consumer Affairs, Food & Public Distribution, and Valdis Dombrovskis, Executive Vice-President of the European Commission responsible for an Economy that Works for People and the European Commissioner for Trade, both leaders emphasized the need to expedite the ongoing negotiations for the India-EU Free Trade Agreement (FTA) by reaching a consensus on all issues. The meeting took place on the sidelines of the first Ministerial meeting of the India-European Union Trade and Technology Council (TTC) and was attended by senior officials from both sides.
During their discussions, the leaders highlighted the longstanding partnership between India and the EU and stressed the importance of working together to strengthen the association. They expressed their commitment to democracy and rule-based international systems. The leaders underscored the need to accelerate the FTA negotiations by addressing all issues and considering mutual sensitivities, particularly regarding market access. They aimed to achieve balanced and meaningful outcomes that would benefit both economies and support employment.
Furthermore, both India and the EU affirmed their dedication to collaborate on shared priorities for WTO reforms. These priorities include matters related to the dispute resolution mechanism, subsidies on agriculture and fisheries, the e-commerce moratorium, and domestic legislations. Recognizing the importance of consensus-based solutions, the leaders aimed to support livelihoods and food security for millions in India and other parts of the developing world. They expressed hope that their joint efforts would lead to meaningful solutions at the upcoming WTO Ministerial Conference.
Following the bilateral meeting, a stakeholder meeting of Working Group 3 on Trade, Investment, and Resilient Supply Chains was held. This meeting was co-chaired by Piyush Goyal and Valdis Dombrovskis. Stakeholders from India and the EU, including representatives from major European industrial bodies such as Business Europe, Digital Europe, Food Drinks Europe, Copa-Cogeca, EFPIA, and ACEA, participated in the meeting. Indian business leaders representing sectors such as chemicals, metals, textiles, digital infrastructure, and steel attended the meeting in person, while representatives from other sectors, including the agri-food industry and marine/logistics, participated virtually.
