India's Commerce Minister To Visit Brussels For Key EU Trade Talks
Date
1/18/2025 2:12:15 PM
(MENAFN- KNN India)
New Delhi, Jan 18 (KNN)
Union Minister of Commerce and industry Piyush Goyal is set to embark on a three-day visit to Brussels from January 18-20 for high-level discussions with European Union officials, marking a significant step in strengthening India-EU trade relations.
The centerpiece of the visit will be dialogue with European Commission Trade Commissioner Maros Sefcovic, focusing on the ongoing India-EU Free Trade Agreement negotiations, Trade and technology Council framework, and bilateral trade matters.
The visit comes at a crucial time when bilateral trade between India and the EU has reached substantial levels, exceeding USD 180 billion in 2023-2024.
The European Union stands as one of India's largest trading partners and has emerged as a vital source of foreign direct investment, with total FDI reaching USD 117.34 billion.
During the Brussels visit, Goyal's agenda includes meetings with key international figures, including WTO Director General Dr. Ngozi Okonzo-Iweala and Belgian Foreign Affairs Minister Bernard Quintin.
The minister will also engage with Belgian industry representatives and the Indian community. Against the backdrop of global trade disruptions, the leaders are expected to discuss ways to expedite FTA negotiations and work toward a commercially significant agreement that serves both parties' interests.
The visit builds on momentum from December's meeting in New Delhi, where Goyal met with European Commission delegation ambassadors to discuss the growing economic ties between India and the EU.
After nine rounds of intense negotiations, the FTA talks have reached a stage where political guidance is deemed necessary to achieve a meaningful agreement that acknowledges both parties' sensitivities.
The successful conclusion of this trade agreement is expected to help India expand its goods and services exports while strengthening supply chain security.
(KNN Bureau)
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