NEW DELHI/BRUSSELS, May 16: Union Commerce Minister Piyush Goyal held a bilateral meeting with European Commission Executive Vice President Valdis Dombrovskis in Brussels during which they stressed on the need for expediting the ongoing FTA negotiations.
The meeting, that was also attended by senior officials from both sides, was held on the side lines of the first Ministerial meeting of India-European Union Trade and Technology Council (TTC).
During the bilateral discussions the leaders recalled the long-standing partnership between the two sides and underlined the need to work together to deepen the association given their commitment to democracy and rule-based international systems.
They emphasised the need for expediting the ongoing FTA negotiations by finding convergence on all issues after due consideration to mutual sensitivities including on market access for balanced and meaningful outcomes that would support the economies and employment on both sides, a statement said.
Both sides also affirmed their commitment to work together on common priorities for WTO related issues. Both sides recognised the need for consensus-based solutions including Permanent Solution on Public Stock Holding that would support the livelihoods and food security for millions in India as well as in large parts of the developing world.
They expressed hope that their joint efforts would enable finding meaningful solutions in the upcoming WTO Ministerial Conference.
The meeting was followed by meeting of the Working Group 3 Stakeholders co-chaired by Piyush Goyal and Valdis Dombrovskis.
The meeting included stakeholders representing India and the EU.
Working Group 3 focuses on Trade, Investment and resilient supply chains. The EU side had representatives from major European industrial bodies including Business Europe, Digital Europe, Food Drinks Europe, Copa-Cogeca, EFPIA and ACEA.
The delegation of Indian business leaders attending the meeting in person represented sectors including Chemicals, metals, textiles, digital infrastructure, and steel while representatives of other sectors like agri-food industry, marine/logistics were present in virtual mode, it added.
(UNI)
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