|
The IndiaEuropean Union Free Trade Agreement (FTA) and opportunities to expand bilateral trade and investment featured prominently in discussions between Union Commerce and Industry Minister Piyush Goyal and German Federal Minister for Economic Affairs and Energy Katherina Reiche during a meeting in Berlin, the Ministry of Commerce and Industry said in a statement on Friday.
The two ministers discussed opportunities for closer industrial cooperation and the potential of the IndiaEU FTA to expand trade and investment between India and Germany, according to the ministry. Goyal also co-chaired an IndiaGermany Business Roundtable organised in collaboration with the German Council on Foreign Relations (DGAP) and the Asia-Pacific Committee of German Business (APA). The roundtable brought together German CEOs and business leaders to discuss ways to translate the prospective trade agreement into concrete commercial opportunities. In their keynote addresses, Goyal spoke about accelerating growth and forging a new era of trade, while Reiche focused on transforming the FTA into industrial opportunities. The ministry said the two ministers also jointly inaugurated the India Centre at DGAP in Berlin, which is intended to promote policy research and dialogue on IndiaGermany relations. Goyal is visiting Germany and the Netherlands from October 22 to 27, leading a delegation of around 100 Indian businesses and startups to strengthen trade and investment ties, explore new business opportunities and expand industrial and technological cooperation. During his visit to Germany from October 22 to 24, the minister is participating in the Berlin Global Dialogue, where he is engaging with international policymakers and global business leaders on economic cooperation and resilient supply chains. At the Berlin Global Dialogue, Goyal participated in a panel discussion titled "New Era, New Alliances: The Third Path?" alongside German, Singaporean and international business representatives. Highlighting the importance of stronger international partnerships, Goyal stressed the role of trust, complementary economic strengths and resilient supply chains in strengthening cooperation between countries, the ministry said. The minister also held separate meetings with senior executives from Bayer AG, Knauf Group and Fresenius SE & Co. KGaA to explore opportunities for business and investment cooperation. The discussions covered opportunities to strengthen industrial partnerships and deepen economic engagement between the two countries. The visit is part of India's ongoing efforts to strengthen its strategic partnership with Germany, particularly in trade, investment, technology and industrial cooperation. The ministry stated that the prospective IndiaEU FTA is expected to provide a broader framework for expanding commercial ties, with the discussions in Berlin focusing on translating its potential into practical business opportunities. (ANI)
|
