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Three working groups formed to strengthen India-EU trade relations

Updated: Feb 07, 2023 11:08:36am

Three working groups formed to strengthen India-EU trade relations

New Delhi, Feb 7 (KNN) With the aim to strengthen trade relations between India and European Union (EU), the formation of three working were announced on Monday.

The working groups have been formed under the Trade and Technology Council, a joint statement said.


As per reports, the working group will cover key issues such as strategic technologies, digital governance and connectivity; green and clean energy technologies; and trade, investment and resilient value chains.

They will also work to resolve identified trade barriers and global trade challenges by promoting cooperation in multilateral fora.

The three groups will start preparing for the first meeting of the council, which will take place before the next EU-India Summit in spring of 2023.

“In a rapidly changing geopolitical environment, the EU and India have a common interest in ensuring security, prosperity and sustainable development based on shared values. The TTC will provide the political steer and the necessary structure to coordinate approaches and advance technical work,” the statement said.

India and EU had in April last year agreed to establish a ‘Trade and Technology Council’, to tackle the challenges at the nexus of trade, trusted technology and security. Such a council is the first for India with any of its partners and second for the EU, following the first one it has set up with the United States (US).

The Ministerial meetings of the council will rely on the preparatory work of three working groups, which will meet within two weeks to organise their work.  (KNN Bureau)


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