The inaugural meeting of the India-European Union Trade and Technology Council (TTC), a high-level coordination platform, is scheduled for May 16 in Brussels. The meeting will focus on bolstering cooperation in strategic technologies, digital connectivity, clean energy, and enhancing trade and investment ties.
The Indian delegation will be co-chaired by Commerce and Industry Minister Piyush Goyal, External Affairs Minister S Jaishankar, and Union Minister of State for Electronics and Information Technology, Rajeev Chandrasekhar. On the EU side, Executive Vice Presidents Dombrovskis and Vestager will co-chair the discussions.
The TTC, unveiled by Prime Minister Narendra Modi and European Commission President Ursula von der Leyen in April 2022, aims to tackle strategic challenges at the crossroads of trade, trusted technology, and security.
Three Working Groups under the TTC will lay down roadmaps for future bilateral cooperation. These include the Working Group on Strategic Technologies; Digital Governance and Digital Connectivity; the Working Group on Green and Clean Energy Technologies; and the Working Group on Trade, Investment, and Resilient Value Chains.
On the sidelines of the TTC, high-level interactions with senior leadership of the European Union and Belgium will address key issues, including ongoing negotiations for a Free Trade Agreement (FTA), mutual market access, World Trade Organization (WTO) reforms, and cooperation in several areas of shared interest.
Goyal is set to meet with EVP Dombrovskis on May 15, followed by stakeholder consultations involving business leaders from both EU and India. In the afternoon, the Minister will keynote a business event organized by the Federation of Enterprises in Belgium (FEB), focusing on the economic contributions of Belgium enterprises in India and future investment plans.
The first ministerial meeting of the TTC on May 16 will be attended by the Indian External Affairs Minister, the Commerce and Industry Minister, and the Minister of State for Electronics and Information Technology. In the same meeting, Goyal will also interact with European Commissioner for Internal Trade, Thierry Breton, discussing SME sector, start-up ecosystem, and e-commerce.
This inaugural TTC meeting sets the stage for a more integrated and resilient global trade network, underpinned by technological advancements and sustainable practices, promising a new era of India-EU collaboration.
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