Business News | Rotterdam Port CEO Sees Huge Potential in India-EU Trade, Stresses Customs Cooperation, Digitalisation
Get latest articles and stories on Business at LatestLY. Rotterdam Port CEO Boudewijn Siemons has expressed high expectations from the India-European Union Free Trade Agreement (FTA), saying the potential for expanding trade between India and Europe is huge and that European countries are looking forward to doing more business with India.
Rotterdam [Netherlands], October 25 (ANI): Rotterdam Port CEO Boudewijn Siemons has expressed high expectations from the India-European Union Free Trade Agreement (FTA), saying the potential for expanding trade between India and Europe is huge and that European countries are looking forward to doing more business with India.
Siemons highlighted the importance of customs cooperation, digitalisation and closer collaboration between ports to facilitate the seamless movement of goods between India and Europe.
“I have very high expectations of FTA, and I think with the developments in India going on, the potential is huge. And I think Europe is really looking forward to doing more and more business with India,” he told ANI.
Emphasising the importance of efficient customs procedures, Siemons said delays in customs clearance can hold up goods at ports for extended periods, underlining the need for greater coordination between customs departments.
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“In aviation and in ports, if customs doesn’t work properly, then goods can be stalled for one, two weeks. So the quicker and the more efficiently that customs departments work together, the less delays there are in ports because of customs procedures. That’s what we’re trying to work on,” he said.
On cooperation between the Port of Rotterdam and India, Siemons stressed that ports and countries must work together to strengthen global trade flows, particularly as logistics and trade processes increasingly move towards digital platforms.
“A lot of goods go from and to port, and as such, ports have to work together, and countries have to work together in a global economy, and that’s what we were discussing today,” he said.
He added that digitalisation would be an important area of collaboration to improve the movement of goods between India and Europe.
“So digitalisation, making sure that the goods can flow more easily between India and Europe, is something that we will be working on,” Siemons said.
The comments come amid efforts to strengthen India-Europe economic engagement, with improved trade facilitation, efficient customs procedures and digital connectivity emerging as key areas for cooperation.
The Port of Rotterdam, one of Europe’s major maritime gateways, plays a significant role in connecting international markets and facilitating global trade. (ANI)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)