The 1st High Level Dialogue (HLD) on ‘trade and investment’, co-chaired by the Minister of Commerce and Industry Piyush Goyal and the European Union Executive Vice-President & Trade Commissioner Mr. Valdis Dombrovskis, was held on 5th February 2021.
Further, Commitment to the establishment of this HLD was a prime outcome of the 15th India-EU Leader’s Summit held in July 2020, with an vision for a Ministerial level guidance towards the bilateral trade and investment relations.
During the HLD, the Ministers emphasized the significance of global cooperation and solidarity in a post COVID-19 era and agreed for further deepening of bilateral trade and investment relationship through a series of regular engagements, aiming at quick deliverable for the businesses in these tough times, The Ministry of Commerce & Industry attributed.
Moreover, The Ministers also agreed to meet within the next three months, with an objective for reaching consensus on a host of bilateral trade & investment cooperation issues viz. a bilateral Regulatory Dialogue; an India-EU Multilateral Dialogue to explore further possibilities of cooperation; etc, it said.
In a relevant step forward, regular interactions for re-initiation of bilateral trade and investment agreements, with an interim agreement, to start with, were also discussed in this HLD. The Ministers concluded with the confidence and commitment towards a renewed India-EU commercial and economic partnership reflecting full potential of bilateral commercial relations.