India-EU FTA Progress A 'Momentous Achievement', Deal By Year-End: Envoy

(MENAFN- AsiaNet News)

FTA Progress a 'Momentous Achievement'

Highlighting the strengthening ties between New Delhi and Brussels, Ambassador of the European Union to India, Herve Delphin, on Monday termed the progress on the India-EU Free Trade Agreement (FTA) a "momentous achievement," noting that both sides are committed to wrapping up the deal by the end of this year.

Speaking on the strategic and economic synergy between the two regions, Delphin emphasized that the speed of the negotiations reflects a shared resolve. "It's a momentous achievement to have concluded the FTA in record time... It shows the resolve of both sides to conclude it, and there was a strong strategic compulsion and a strong overlapping economic interest," Delphin said. He further noted, "We offer each other complementarity, offer each other skills, we offer each other diversification and de-risking... Both sides are committed to having this process concluded as soon as possible, by the end of the year."

Evolving Security and Defence Partnership

Beyond trade, the Ambassador underscored a significant shift in the bilateral security architecture. He pointed out that the relationship has evolved from basic consultations to a formal "security and defence partnership" in just five years. "It shows how much mileage we've done together, coming closer in exchanging and aligning on security and defence concerns," he remarked.

Future Cooperation and Defence Industry Ties

Outlining the roadmap for future cooperation, Delphin revealed that the next phase involves a "security of information agreement," which will serve as a legal enabler for deeper ties, eventually leading to robust defence-industry cooperation.

Maritime Security in the Indo-Pacific

The Ambassador also touched upon maritime security, specifically in the Indo-Pacific region, noting the tactical alignment between naval forces. "The Indian Navy and our navy operations are cooperating, because we are on the same page about the protection of safe passage through the Indian Ocean," Delphin added.

The push for the FTA and the burgeoning defence partnership come at a time when both India and the EU are seeking to diversify supply chains and bolster maritime security amid global geopolitical shifts. (ANI)

(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)

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