The European Union (EU) and India are working towards finalizing a comprehensive trade agreement by the end of 2026, as stated by European Commission President Ursula von der Leyen.
Von der Leyen emphasized the EU’s commitment to expediting the implementation of the agreement and announced plans for a significant business event aimed at facilitating connections between European and Indian companies. The initiative is designed to provide essential information to businesses and create conditions conducive to quickly realizing the benefits of the agreement.
She noted that the trade agreement represents only a segment of the broader cooperation between the two parties. The next step will involve negotiating an investment agreement intended to strengthen economic ties amid global shifts in supply chains and increasing economic security challenges.
Von der Leyen highlighted that enhancing investment cooperation would assist both the EU and India in mitigating risks and diversifying their economic activities.
Additionally, the European Commission President reminded attendees of existing agreements in the fields of security and defense. The two parties have signed a partnership agreement and conducted their first security and defense dialogue in New Delhi.
The EU and India also plan to expand their collaboration in maritime security, conduct joint naval exercises, and cooperate on countering cyber threats, protecting critical infrastructure, and sharing information.
The EU and India are set to finalize a trade agreement by 2026, with plans for an investment pact to enhance economic ties. Their collaboration also extends to security and defense initiatives.