Piyush Goyal, EU Trade Commissioner discuss progress on FTA
Commerce Minister Piyush Goyal met European Trade Commissioner Maros Sefcovic and reviewed the progress towards signing the India-EU Free Trade Agreement.
Goyal met Sefcovic on the sidelines of the G20 Trade Ministers’ meeting in Milwaukee on Wednesday.
“Good meeting my friend, Mr @MarosSefcovic, European Commissioner for Trade and Economic Security, on the sidelines of the G20 Trade Ministers’ Meeting,” Goyal said in a post on X.
The minister said he and Sefcovic reviewed progress towards the signing and entry into force of the India-EU FTA.
“Also exchanged views on progress under the India-EU Trade and Technology Council, meaningful WTO reform and shared G20 priorities,” Goyal said. India and the EU concluded the free trade agreement in January this year, almost two decades after launching the initial negotiations in 2007.
On September 11, the European Commission formally requested the Council of the European Union to authorise the signing and conclusion of the India-EU Free
Trade Agreement.
The India-EU FTA, dubbed the “mother of all deals” by leaders on both sides, is expected to be signed later this year and implemented in early 2027.
On becoming effective, the FTA is expected to expand market access, reduce tariffs, address non-tariff barriers, and establish more predictable rules governing trade and investment between the two economies. The EU and India currently exchange goods and services valued at more than 180 billion euros annually. Commerce Minister Piyush Goyal held bilateral meetings with his counterparts from Brazil and Mexico, countries facing the brunt of the trade tariff policy pursued by the US.
Goyal also held discussions with Mexican Secretary of Economy Marcelo Ebrard on deepening cooperation to further advance trade and investment ties. “Discussed the huge potential for deeper cooperation and unlocking new avenues to further advance India-Mexico trade & investment ties,” Goyal said in a post on X, referring to his meeting with the Mexican leader.
