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The India-European Union Free Trade Agreement (FTA) could be implemented in spring 2027, Netherlands Minister for Foreign Trade and Development Cooperation Sjoerd Sjoerdsma has said, expressing hope that the agreement would be signed in December and operationalised as soon as possible.
Sjoerdsma said the Netherlands and the European Union were ambitious about completing the remaining formalities for the agreement, which he described as unique and far-reaching. We hope that this will be signed in December, and we hope that implementation will follow as soon as possible, preferably the next day. But we all know it takes a little more than that, he said. I dont have my crystal ball as to the exact date, but lets hope that this gets implemented spring next year, he added. The minister said the agreement had been concluded in almost record time, reflecting the ambition to deepen economic engagement between India and the European Union. On his meeting with Union Commerce and Industry Minister Piyush Goyal, Sjoerdsma said he was pleased to meet his Indian counterpart again and had accepted Goyals invitation to visit India in January next year. Emphasising the importance of trust in strengthening economic ties, he said relations between India and the Netherlands were at an all-time high. We need to ensure that there is a huge amount of trust between us, because where there is trust, there will be economic relations. And if I look at the trust between the Netherlands and India, I think its an all-time high, he said. Sjoerdsma said both countries stood to benefit from greater commercial engagement, with Dutch innovation complementing Indias talent and skills. He also expressed optimism about expanding bilateral trade and said he would like to see India-Netherlands trade double as soon as possible. The ministers remarks come as India and the Netherlands seek to strengthen economic cooperation amid efforts to advance the India-EU trade agreement. (ANI)
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