Cooperation between India and the EU is a partnership for global good, said Indian Prime Minister Narendra Modi on the occasion of the bilateral free trade agreement signed today, the Indian national news agency PTI reported, quoted by BTA.
Prime Minister Modi, President of the European Council Antonio Costa and the President of the EC presented a grand program to strengthen bilateral ties in the fields of trade and defense and to work together to build a rules-based global order.
The two countries also signed two other important pacts – on security and defence cooperation and on the mobility of Indian talent to Europe. "India today concluded the largest free trade agreement in its history (…). It will facilitate access to the European market for our farmers and small industries and create new opportunities in the manufacturing and trade sectors", Modi wrote in a statement to the media. "This free trade agreement will boost investment between India and the EU, create new partnerships for innovation and strengthen global supply chains. This means that it is not just a trade agreement. It is a new blueprint for shared prosperity", the Indian Prime Minister stressed.
"Cooperation between India and the EU is a partnership for the global good. We will extend trilateral projects from the Indo-Pacific region to the Caribbean", Modi added. "Together, we will establish the India-Middle East-Europe Corridor (IMEC) as a key link between global trade and sustainable development", the Indian Prime Minister also wrote.
He noted that India and the EU had discussed in detail a number of global issues, including the situation in Ukraine, East Asia and the Indo-Pacific region.
"Multilateralism and adherence to international norms are our shared priorities. We agree that reform of global institutions is essential to address today's challenges," Modi concluded.