Business News | India, Germany Discuss Strengthening Trade Facilitation, Market Access
Get latest articles and stories on Business at LatestLY. India's Commerce Minister Piyush Goyal on Wednesday co-chaired a meeting with the business delegations from India and Germany along with Johann Wadephul, Federal Minister for Foreign Affairs here in the national capital.
New Delhi [India], September 3 (ANI): India's Commerce Minister Piyush Goyal on Wednesday co-chaired a meeting with the business delegations from India and Germany, along with Johann Wadephul, German Federal Minister for Foreign Affairs, here in the national capital.
The German foreign minister is on a two-day visit to India.
Taking to X, Piyush Goel shared that they discussed strengthening trade facilitation, regulatory frameworks, and market access.
"We also explored avenues of collaboration in defence, space, innovation and automobiles, underscoring the vast potential of our partnership," he added.
During the visit, German Foreign Minister Johann Wadephul reaffirmed his country's commitment to finalising the Free Trade Agreement (FTA) between India and the European Union as soon as possible.
India and the EU aim to conclude the ambitious FTA by the end of 2025.
This visit further fortifies the India-Germany Strategic Partnership, which marks 25 years since its inception.
Yesterday, the German Foreign Minister arrived in Bengaluru, where he visited the Indian Space Research Organisation (ISRO) before leaving for Delhi.
Ahead of his visit, he underscored the vital role India plays as a key partner in the Indo-Pacific region and on the global stage.
In a series of posts on X, Wadephul emphasised the close political, economic, and cultural ties between Germany and India, describing the expanding strategic partnership as having significant potential.
He also highlighted areas such as security cooperation, innovation, technology, and skilled workforce recruitment as key pillars of the bilateral relationship.
"India is a key partner in the Indo-Pacific. Our relations are close - politically, economically, culturally. The expansion of our strategic partnership has much potential: from security cooperation to innovation and technology to recruiting skilled workers," Wadephul said.
"India's voice, that of the world's most populous country and largest democracy, is also heard beyond the strategically important Indo-Pacific region. That is why I am travelling today for talks to Bangalore and New Delhi," he added.
The German Foreign Minister also emphasised the natural alliance between democracies like Germany and India, particularly in the face of growing geopolitical challenges.
"India plays a decisive role in shaping the international order of our century. We as democracies are natural partners in this. In view of massive geopolitical challenges, we want and must preserve the rules-based international order together," he concluded.
Germany is one of India's most valued partners in Europe. The two countries share a strong strategic partnership, which has grown steadily over the decades since the establishment of diplomatic relations in 1951. In March 2021, both sides marked 70 years of diplomatic ties. (ANI)
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