India, EU agree to burn ‘trade irritants’, push free-trade pact

India, EU agree to burn ‘trade irritants’, push free-trade pact

AgenciesUpdated: Thursday, July 16, 2020, 01:20 AM IST
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PM Modi attends the India-EU Virtual Summit 2020 in Delhi. | —PTI

New Delhi: India and the 27-nation European Union on Wednesday unveiled a five-year roadmap to further strengthen their broad-based strategic partnership, and decided to set up a high-level dialogue to address "trade irritants" to boost economic ties between the two sides and foster progress on the long-pending free trade agreement.

Addressing the virtual summit, PM Modi described India and the EU as "natural partners", and asserted that the partnership was important for peace and stability in the world and this reality has become "even more evident in today's global scenario".

The EU delegation was headed by European Council president Charles Michel and European Commission president Ursula von der Leyen. Reflecting growing congruence in ties, the two sides announced the institution of a separate maritime dialogue, released a declaration on moving towards a more circular economic model, recognising that post Covid-19, economic recovery offers opportunities to unleash the full potential of trade ties.

Briefing reporters on the summit deliberations, Secretary (West) in the External Affairs Ministry Vikas Swarup said India's relations with China did come up in the talks and the PM shared New Delhi's views on the ties as well as on the current situation in the border areas.

Later, at a press conference when asked whether Chinese aggressiveness and the recent incident at the Sino-India border was discussed, Michel said,"probably you know, a few weeks ago, we had a video conference summit with Chinese authorities. The relationship between the EU and China is complex. We need to tackle different issues and topics. And indeed we are in favour of a peaceful solution."

"Prime Minister Modi had the occasion also to inform us about the latest developments regarding this incident with China, and we support all the efforts in order to maintain a channel of dialogue in order to find peaceful solutions," Michel added.

Pakistan's continued support to terrorist activities against India and other countries of the region too figured during the talks, he added.

On trade ties, Swarup said the two sides have expressed commitment and agreed to work for a balanced, ambitious and mutually beneficial trade agreement and that talks on it may start in the next few months.

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