India and the European Union are nearing a “historic” free commerce settlement that will create a market of about two billion individuals and accounting for practically 1 / 4 of world GDP, European Fee President Ursula von der Leyen mentioned on Tuesday, amid renewed tariff stress from the US.
European Council President Antonio Costa and von der Leyen will go to India from January 25–27 as chief friends at Republic Day celebrations and for summit talks with Prime Minister Narendra Modi.
The 2 sides are set to announce the conclusion of negotiations on the much-awaited free commerce settlement on the India-EU summit on January 27.
In an deal with on the World Financial Discussion board in Davos, von der Leyen mentioned Europe desires to do enterprise with the expansion centres of as we speak and the financial powerhouses of this century.
“I’ll journey to India. There may be nonetheless work to do. However we’re on the cusp of a historic commerce settlement. Some name it the mom of all offers. One that will create a market of two billion individuals, accounting for nearly 1 / 4 of world GDP,” she mentioned in a televised deal with.
“And, crucially, that would supply a first-mover benefit for Europe with one of many world’s quickest rising and most dynamic continents. Europe desires to do enterprise with the expansion centres of as we speak and the financial powerhouses of this century,” von der Leyen mentioned.
“From Latin America to the Indo Pacific and much past, Europe will all the time select the world. And the world is prepared to decide on Europe,” she mentioned.
