Belgium, (Brussels Morning Newspaper) The European Commission and India agreed to set up the EU-India Trade and Technology Council.
European Commission President Ursula von der Leyen and Indian Prime Minister Narendra Modi agreed to the launch at their meeting in New Delhi on Monday, the EC noted in a statement.
The move will “allow both partners to tackle challenges at the nexus of trade, trusted technology and security, and thus deepen cooperation in these fields between the EU and India,” according to the EC.
The body pointed out that both sides agree that geopolitical changes increase the importance of joint strategic engagement.
The Commission pointed out “the Trade and Technology Council will provide the political steer and the necessary structure to operationalise political decisions, coordinate technical work, and report to the political level to ensure implementation and follow-up in areas that are important for the sustainable progress of European and Indian economies.”
The EC noted that India and the EU share values and interests, and reminded us that diplomatic relations between the bloc and India were established 60 years ago.
This is a solid foundation for expanding strategic cooperation, the Commission stressed and added that the EU and India “are determined to increase joint efforts to tackle current challenges and address geopolitical circumstances.”
The body noted that the Trade and Technology Council will be India’s first and EU’s second such move, reminding that the bloc launched its first with the US. It stressed that the launch is “a key step towards a strengthened strategic partnership for the benefit of all peoples in the EU and India.”
Speaking in New Delhi, EC President Ursula von der Leyen stressed that the EU and India “are vibrant democracies, we both support wholeheartedly the rules-based international order and we have both large economies, and we are both facing a challenging global landscape.”
Von der Leyen noted that she is happy with the start of negotiations on trade and investments and stressed the importance of energy security for the EU and India.
“The EU will diversify away from fossil fuels and will invest heavily in clean renewable energy,” she announced and concluded “this process is accelerated by Russia’s aggression against Ukraine.”