The European Union and India aim to complete the signing of a trade agreement by the end of 2026.
This was stated by the President of the European Commission, Ursula von der Leyen.
According to her, the EU plans to ensure the earliest possible entry into force of the agreements and organize a large-scale business event for European and Indian companies. The aim of the initiative is to provide businesses with the necessary information and create conditions for a quick launch of the benefits of the agreement.
Von der Leyen stressed that the trade agreement is only part of a broader cooperation between the parties. The next step should be the conclusion of an investment agreement, which should strengthen economic ties in the face of global changes in supply chains and growing challenges to economic security.
She stressed that deepening investment cooperation will help the EU and India reduce risks and diversify economic activities.
Separately, the head of the European Commission recalled the agreements already reached in the field of security and defense. In particular, the parties signed a partnership agreement and held the first dialogue on security and defense issues in New Delhi.
The EU and India also plan to expand cooperation in the field of maritime security, conduct joint naval exercises, and cooperate in countering cyber threats, protecting critical infrastructure, and exchanging information.