There are high chances that India and the European Union(EU) could announce a political dialogue on trade and investments to resume the pending bilateral trade and investment agreement at the India-EU summit on Wednesday. The leaders could also debate on China’s motives. The dialogue will take place between EU Trade Commissioner Phil Hogan and Commerce Minister Piyush Goyal.
PM Modi was scheduled to visit Brussels in March for the summit, but the visit was dropped due to the Corona outbreak. Both India and the EU have been hard hit by the health emergencies. Today the summit will take place by video conferencing at 4:30 p.m. PM Narendra Modi has tweeted that he is confident that this summit will strengthen India’s economic and cultural linkages with Europe.
On Tuesday, India and the EU have sealed a civil nuclear cooperation agreement. It involves the thorough translation of peaceful uses of nuclear energy including research and development.
An allied roadmap for the next five-year time frame will come into play which will also address the challenges due to the COVID-19 pandemic. The EU is much operational in the Indian Ocean region, therefore, a novel maritime security dialogue is likely to be announced. Earlier also, the EU has displayed a significant amount of skills while combating piracy in the western Indian Ocean area.
There also could be an agreement between CBI and the Europol for stronger defense and security co-operations. The summit will be co-chaired by PM Narendra Modi, European Council President Charles Michel, and European Commission President, Ursula von der Leyen.
As the world is fighting the global COVID-19 crisis there would be interaction regarding global cooperation, to nullify the socio-economic consequences, and to fortify the response capacity and protection of human lives.
On contemporary global issues, there would be a debate on relations with China, the US, and Russia as the EU has received detailed information about the LAC in Ladakh.
EU was New Delhi’s largest trading partner in 2018. India’s bilateral trade with the EU stood at $115.6 billion in 2018-19.