EU-India FTA Could Be Signed By Year-End: German Ambassador

(MENAFN- IANS) New Delhi, Sep 23 (IANS) The proposed Free Trade Agreement (FTA) between India and the European Union could be signed by the end of this year, German Ambassador to India Dr Jasper Wieck said on Wednesday, adding that unlocking the pact's economic potential and boosting bilateral trade and investment will be among his key priorities.

Addressing a press conference here, Wieck said the agreement was concluded earlier this year and could be formally signed before year-end.

He noted that one of his primary objectives would be to ensure that Indian and German companies fully benefit from the agreement's economic opportunities.

"The agreement was concluded at the beginning of the year and could be signed by the end of the year. Our focus will be on realising the agreement's economic potential," he said.

According to the ambassador, experts believe the deal has the potential to substantially increase bilateral commerce and could even double trade between the two sides.

Emphasising the broader strategic relationship, Wieck said the India-Germany strategic partnership, established in 2000, has become more important than ever amid rapid changes in the global geopolitical landscape.

He described the current international environment as increasingly unpredictable, marked by declining trust among countries and intensifying competition among major powers.

The ambassador said the deterioration in the global strategic environment has reinforced the importance of partnerships based on trust, predictability and mutual confidence.

He stressed that India and Germany share these qualities and that cooperation between the two countries will be critical in navigating emerging global challenges.

Commenting on developments in Europe, Wieck said regional elections in Germany are unlikely to have any impact on India-Germany bilateral relations.

He noted that the overwhelming majority of Germans live in western Germany, which he characterised as generally moderate and confident in democratic institutions.

On security issues, the ambassador reiterated Germany's criticism of Russia's actions in Ukraine, arguing that Moscow's conduct has undermined peace, stability and trust in Europe.

He referred to Russia's annexation of Crimea and cited military actions in Georgia as examples of what he described as a broader revisionist approach.

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