NEW DELHI, India — European Union envoys on Tuesday welcomed the newly concluded India-EU trade deal, calling it a major achievement that is expected to significantly strengthen trade and investment ties after years of lengthy and complex negotiations.
Speaking to IANS, Malta’s High Commissioner to India, Reuben Gauci, said the agreement marks an important milestone following many years of discussions. He described the deal as substantive and carefully balanced, while respecting the interests of both sides.
Gauci said the agreement is expected to provide a strong boost to trade and investment relations, noting that trade often acts as a key driver for increased investment. He added that opening markets creates new opportunities for businesses in both India and the European Union.
“It’s a great achievement after many years of negotiation. I think we managed to reach an agreement that is substantive, while respecting the right lines of the two parties,” he said.
Italian Ambassador to India, Antonio Bartoli, described the deal as an extremely important development for both India and the European Union. Expressing relief at the conclusion of the talks, he said it was critical that two major economic blocs were able to reach an agreement in an amicable and predictable manner.
Bartoli emphasized that predictability is particularly important in the current global environment, as it provides confidence to businesses and investors making long-term decisions.
Austrian Ambassador to India, Robert Zischg, also welcomed the agreement, noting that it comes after nearly 18 years of difficult negotiations involving a wide range of complex issues that directly affect companies on both sides.
Zischg said concluding such a complicated agreement sends a strong political and economic signal and will provide greater clarity and confidence for companies operating across India and Europe.
“This is a very complicated deal and that we have finalised the negotiations is both a good political signal and also economic signal for our companies. I guess this is at the core of that agreement,” he said. (Source: IANS)
