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Updated October 20th, 2021 at 00:46 IST

India, EU hold 3rd Strategic Partnership meet; discuss COVID, Climate Change, other issues

The third India-EU Strategic Partnership Review took place on October 19 in Brussels, according to the statement released by Ministry of External Affairs (MEA).

Reported by: Aparna Shandilya
India
Image: AP, Pixabay | Image:self
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The third India-EU Strategic Partnership Review took place on October 19 in Brussels, according to the statement released by the Ministry of External Affairs (MEA) on Tuesday, October 19. Both, India and the EU discussed the best ways to work together to combat the COVID-19 pandemic and its effects on economies, societies, and individuals.

MEA said in the press release, “Following the India-EU Leaders’ Meeting of 8th May 2021, which set a clear path for further deepening ties between India and the EU, the meeting allowed for a comprehensive review of the Strategic India-EU Partnership, guided by the India-EU Strategic Partnership: A Roadmap to 2025.”

The discussions centred on how to work together to address the challenges of climate change, biodiversity loss, and pollution, as well as how to contribute to the success of the upcoming Climate COP26. India and the EU also discussed the next steps to put into action the decision of their leaders' to resume negotiations for an ambitious, balanced, comprehensive, and mutually beneficial trade agreement, as well as to begin negotiations on a stand-alone investment protection agreement and a separate agreement on geographical indications.

The release further stated, “They discussed the next steps on the implementation of the India-EU Connectivity Partnership which was agreed at the May 2021 Leaders’ Meeting. India and the EU also discussed ways to further cooperate in the areas of research, technology and digital transformation, as well as continued implementation of the Common Agenda on Migration and Mobility."

The MEA noted that India and the EU were looking forward to the next edition of the Human Rights Dialogue in 2022, following the success of the 9th India-EU Human Rights Dialogue in April 2021. Helena Konig, Deputy Secretary-General for Economic and Global Issues, European External Action Service, and Reenat Sandhu, Secretary (West), Ministry of External Affairs, co-chaired the meeting.

India-EU ties

After China (12%) and the United States (11%), the EU is India's third-largest trading partner, accounting for €62.8 billion in goods trade in 2020, or 11.1% of total Indian trade (11.7%). After the United States, the EU is India's second-largest export destination (14% of total). In 2020, service trade between the EU and India was worth €32.7 billion. In the last decade, the EU's share of foreign investment inflows to India has more than doubled, from 8% to 18%, making it India's first foreign investor. India is the EU's 10th largest trading partner, accounting for 1.8% of total EU goods trade in 2020, trailing China (16.1%), the United States (15.2%), and the United Kingdom (12.2%).

Image: AP, Pixabay

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Published October 20th, 2021 at 00:49 IST

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