PM Modi, EU member states discuss strengthening cooperation through FTA

New Delhi: Prime Minister Narendra Modi on Wednesday met his Croatian counterpart, Andrej Plenkovic, and discussed early implementation of the India-European Union Free Trade Agreement (FTA), further strengthening the bilateral ties.

Both leaders met on the sidelines of the AI Impact Summit, a five-day event being held in New Delhi.

Following the meeting, the Ministry of External Affairs (MEA) said, "The two leaders exchanged views on ways to further strengthen India-Croatia relations and advance cooperation in new areas of mutual interest, including AI, information and communication technologies, innovation and clean energy, among others. Both leaders agreed to work for the early implementation of the India-EU FTA."

Prime Minister Modi also appreciated the "deep interest" of the people of Croatia in Indology and the Indian traditional system of Yoga and Ayurveda.

Earlier in the day, PM Modi met his Finnish counterpart, Petteri Orpo, and discussed further enhancing cooperation in sustainability, digitalisation, AI research and ethical innovation.

The Prime Minister also thanked the Finnish PM for his "personal support" for the India-EU FTA.

"Held extensive discussions with the Prime Minister of Finland, Mr Petteri Orpo. Thanked him for his personal support to the India-EU FTA, which ushers in a golden era in India-Europe relations. India and Finland aim to double trade, thus giving a strong boost to economic linkages," PM Modi posted on X.

Both leaders also discussed enhancing cooperation in futuristic technologies like 6G, innovation, clean energy, biofuels, circular economy and more.

On January 26, negotiations between India and the European Union for a Free Trade Agreement were finalised, with the goal of establishing a vast trading bloc comprising 2 billion individuals, reducing tariffs on various goods such as automobiles, alcoholic beverages, and food products, enhancing access to markets for services, and strengthening collaboration in areas such as clean technology and digital trade.

This agreement, described as the 'Mother of All Deals', greatly opens up markets while also incorporating gradual tariff reductions, with India protecting sensitive sectors like dairy and agriculture.