New Delhi (NVI): India and European Union in first high level dialogue (HLD) have agreed on further deepening the bilateral trade and investment relationship through a series of regular interactions in this sector.
“The High Level Dialogue (HLD), co-chaired by the Minister of Commerce Piyush Goyal and the European Union Executive Vice-President & Trade Commissioner Valdis Dombrovskis was held on February 5,” according to a statement from the Ministry of Commerce & Industry.
This dialogue was a major outcome of the 15th India-EU leader’s summit held in July last year, with an objective for a ministerial level guidance towards the bilateral trade and investment relations, it added.
During the HLD meeting, the ministers talked about the importance of global cooperation and solidarity in a post-COVID-19 era, the ministry said.
It added that the two sides agreed to work for further deepening of bilateral trade and investment relationship through a series of regular engagements, aiming at quick deliverable for the businesses in these tough times.
The ministers also agreed to meet within the next three months, with an objective for reaching consensus on a host of bilateral trade & investment cooperation issues through a bilateral Regulatory Dialogue.
Also, an India-EU Multilateral Dialogue to explore further possibilities of cooperation etc.
Furthermore, in a significant step forward, regular interactions for re-initiation of bilateral trade and investment agreements, with an interim agreement, to start with, were also discussed.
The ministers concluded with the confidence and commitment towards a renewed India-EU commercial and economic partnership reflecting full potential of bilateral commercial relations, the statement added.