Davos [Switzerland], January 20 (ANI): European Commission President Ursula von der Leyen on Tuesday said the European Union and India are close to finalising a landmark Free Trade Agreement (FTA), describing it as a potential “historic trade deal” that some have dubbed “the mother of all deals.”
Addressing the World Economic Forum (WEF) in Davos, von der Leyen said that while some work remains, the negotiations have reached a decisive stage. “There is still work to do. But we are on the cusp of a historic trade agreement. Some call it the mother of all deals—one that would create a market of 2 billion people, accounting for almost a quarter of global GDP,” she said.
Highlighting the scale and significance of the proposed agreement, von der Leyen underlined Europe’s determination to expand trade ties and strengthen international cooperation, with India playing a central role in the EU’s broader global trade strategy.
She announced that she will travel to India next weekend following the conclusion of the Davos summit, noting that the visit is aimed at advancing the proposed trade agreement and further strengthening economic relations between Europe and India. “There is important work to be done to deepen cooperation and reinforce our economic partnership,” she said.
Placing the India deal within Europe’s wider global outlook, von der Leyen reaffirmed the EU’s openness to global engagement. “Europe will always choose the world, and the world is ready to choose Europe,” she said, stressing that the EU remains committed to doing business with partners worldwide.
She added that Europe’s trade strategy is anchored in creating a stable and well-regulated environment that attracts investment, boosts trade, and supports sustainable economic growth.
Beyond trade and investment, von der Leyen identified energy as a critical pillar of Europe’s growth agenda. She said the EU is working to build an energy union capable of delivering homegrown, reliable, and affordable energy to underpin economic expansion, while calling for an “urgency mindset” to tackle energy challenges and secure a sustainable future.
Touching on broader strategic priorities, the European Commission President noted that Europe has made unprecedented progress in defence over the past year, with member states increasing defence investments to record levels. She also pointed out that three leading European defence technology startups have achieved unicorn status, reflecting growing innovation and strength in the sector.
In a significant boost to India-EU ties, President of the European Council Antonio Luís Santos da Costa and President Ursula von der Leyen will attend India’s 77th Republic Day celebrations as Chief Guests. At the invitation of Prime Minister Narendra Modi, the two EU leaders will undertake a three-day State Visit to India starting January 25.
During the visit, they will co-chair the 16th India-EU Summit on January 27. The leaders are scheduled to meet President Droupadi Murmu and will hold both restricted and delegation-level talks with Prime Minister Modi. An India-EU Business Forum is also expected to be organised on the sidelines of the summit.
India and the European Union have been strategic partners since 2004. The 15th India-EU Summit was held virtually on July 15, 2020. According to the Ministry of External Affairs (MEA), bilateral engagement has expanded and deepened across multiple sectors, particularly following the historic visit of the EU College of Commissioners to India in February last year.
The MEA said the participation of EU leaders in the Republic Day celebrations and their presence at the upcoming summit are expected to further strengthen the India-EU Strategic Partnership and advance cooperation in areas of mutual interest. (ANI)
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