Indian Economy News

India and Italy hope for early conclusion of free trade agreement talks

  • IBEF
  • April 14, 2023

As per a statement by the Commerce Ministry, India and Italy have discussed the progress of talks on the proposed free trade agreement (FTA) between New Delhi and the European Union (EU) and hope for its early conclusion.

This issue was discussed in a meeting between the Italian Deputy Prime Minister and Minister of Foreign Affairs and International Cooperation in Foreign Office, Mr. Antonio Tajani and Mr. Piyush Goyal, Union Minister of Commerce and Industry, Consumer Affairs, Food & Public Distribution, and Textiles, in Rome on April 12, 2023.

The importance of achieving a free, balanced, and fair FTA was discussed by the ministers and they hoped for it to be concluded soon. They also decided to hold the Joint Commission on Economic Cooperation's subsequent meeting in September, 2023 in Rome.

It was suggested by Mr. Antonio Tajani, that the two countries strengthen their parliamentary friendship and group diplomacy and further explore the scope to have a cyber dialogue. Mr. Piyush Goyal emphasized enhancing bilateral cooperation in clean energy in order to mitigate the negative impact of climate change. He also emphasised the necessity for developed nations to make low-cost climate financing and technology available to the developing nations.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.