Germany supports India-EU negotiations on free trade agreement

By Trend

Germany expressed its support for India’s upcoming negotiations with the EU on a Free Trade Agreement, Trend reports via Indian media.

The issue was discussed at the meeting between Indian Prime Minister Narendra Modi and German Chancellor Olaf Scholz at a press conference in Berlin.

The sides noted the potential of expanding bilateral trade and investment, the aim to make supply chains more resilient, diversified, and sustainable.

“Germany and India are important trade and investment partners. Both sides expressed their strong support for the upcoming negotiations between the European Union and India on a Free Trade Agreement, an Investment Protection Agreement and an Agreement on Geographical Indications, and underlined the enormous potential of such Agreements for expanding bilateral trade and investment,” the joint statement said.

Also, Germany and India acknowledged the importance of digital transformation as a key driver for technological, and economic change.

“The Indo-German Digital Dialogue is an important instrument to facilitate cooperation on digital topics such as Internet Governance, emerging technologies and digital business models. At the same time, they expressed their support to benefit from synergies with other existing initiatives like the industry-driven Indo-German Digital Experts Group,” the statement added.