“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 two billion people, accounting for almost a quarter of global GDP,” she said, addressing a gathering at the World Economic Forum (WEF) here.
Diversifying trade ties
The EU chief was elaborating on the 27-nation European bloc’s efforts to broaden and diversify its trade partnerships. She will travel to India next weekend after the conclusion of the WEF to advance the ongoing efforts to conclude the FTA.
There is important work to be done to strengthen economic ties and deepen cooperation between Europe and India, von der Leyen said.
Terming the agreement with India as part of Europe’s wider global approach, she added that the continent remains committed to doing business with partners worldwide.
‘Europe will choose world’“Europe will always choose the world, and the world is ready to choose Europe,” she said, underlining the continent’s intent to expand international trade and cooperation.
Explaining the policy direction behind this outreach, von der Leyen added that the focal point of Europe’s strategy is to create a stable and well-regulated environment that supports investment, boosts trade and enables sustainable economic growth.
The European Commission President also highlighted energy as a key pillar of Europe’s growth strategy, saying that it aims to build an energy union that ensures homegrown, reliable, and cheaper energy to drive economic growth.
The development comes at a time when von der Leyen and European Council President Antonio Costa are scheduled to attend the 77th Republic Day celebrations as chief guests at New Delhi’s Kartavya Path on January 26. At the invitation of Prime Minister Narendra Modi, the two leaders will undertake a three-day state visit to India from January 25.