India and EU Urged to Reinvent Partnership and Finalize FTA This Year

European Commission President Ursula von der Leyen advocates for India and the EU to redefine their partnership and expedite the finalization of a free trade agreement (FTA) during her visit to India. She emphasizes the need for a security and defense partnership to counter common threats. The FTA, described as potentially the largest globally, is a crucial step in aligning the two regions amidst global economic uncertainties.

European Commission President Ursula von der Leyen, during her visit to India with a delegation of EU commissioners, emphasized the need for India and the EU to reinvent their partnership amid increasing geopolitical tensions. She advocated for finalizing a free trade agreement (FTA) within this year, highlighting the urgency stemming from global power dynamics, particularly in light of threats such as tariffs on EU goods by the United States.

Von der Leyen noted that this is a critical time for collaboration between India and Europe, as both face challenges related to economic coercion and security threats such as terrorism and attacks on infrastructure. She mentioned the intent to elevate the strategic partnership for shared prosperity and security while addressing global common challenges.

Elaborating on the FTA, von der Leyen expressed confidence in the partnership, which she described as potentially the largest of its kind. Although recognizing that negotiations may be challenging, she reinforced her commitment and determination to finalize the agreement, which had previously stalled in 2013 but resumed in 2022.

The European Commission-President outlined plans for a security and defense partnership with India, drawing parallels with existing arrangements with nations like Japan and South Korea. This initiative aims to enhance collaborative efforts on maritime security and to mitigate various threats, including cyber-attacks and terrorism, underscoring both countries’ interests in defense capabilities.

In summary, Ursula von der Leyen’s visit to India underscores a pivotal moment for EU-India relations, stressing the importance of reimagining their partnership through a timely and comprehensive free trade agreement. The suggested security and defense collaboration aims to strengthen both countries against common threats, promoting shared prosperity, and enhancing global economic stability amidst increasing geopolitical challenges.

Original Source: www.hindustantimes.com