India, EC agree to set up Trade and Technology Commission
Prime Minister Narendra Modi meeting European Commission President Ursula Von Der Leyen, in New Delhi on April 25, 2022.

India, EC agree to set up Trade and Technology Commission

New Delhi, April 25, 2022

India and the European Commission today agreed to institute a high-level Trade and Technology Commission to provide political-level oversight of all aspects of the India-European Union (EU) relationship, and to ensure coordination between different areas of cooperation.

This was decided at a meeting here today between Prime Minister Narendra Modi and EC President Ursula Von der Leyen.

Von der Leyen is in New Delhi to deliver the inaugural address at this year's edition of the Raisina Dialogue later in the day.

During their talks, the leaders agreed that as large and vibrant democratic societies, India and Europe share similar values and a commonality of perspectives on many global issues.

They reviewed the progress in the India-EU Strategic Partnership, including the forthcoming re-commencement of negotiations on a Free Trade Agreement and Investment Agreement, an official press release said.

The leaders had an extensive discussion on climate related issues, including on possibilities of collaboration between India and the EU in areas like Green Hydrogen. They also discussed the continuing challenges of COVID-19 and stressed efforts to ensure equitable access to vaccines and therapeutics to all parts of the world.

"In addition, several geo-political issues of topical importance were discussed during the meeting, including the situation in Ukraine and developments in the Indo-Pacific region," it said.

A press release from the EC said the Trade and Technology Council, a strategic coordination mechanism, would 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.

"Both sides agreed that rapid changes in the geopolitical environment highlight the need for joint in-depth strategic engagement. 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.

"Even as we celebrate the 60th anniversary of the establishment of diplomatic relations, we are confident that the shared values and common interests of the EU and India offer a strong basis to intensify mutually beneficial and deeper strategic cooperation. The European Union and India are bound by decades of close partnership and are determined to increase joint efforts to tackle current challenges and address geopolitical circumstances.

"The decision to set up a Trade and Technology Council will be the first for India with any of its partners and second for the European Union following the first one it has set up with the US. Establishing the EU-India Trade and Technology Council is a key step towards a strengthened strategic partnership for the benefit of all peoples in the EU and India," the release added.

NNN

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