Modi, Frederiksen call for early conclusion of India-EU trade, investment pacts

Prime Minister Narendra Modi and Danish Prime Minister Mette Frederiksen discussed need for early conclusion of the India-EU Free Trade Agreement negotiations, cooperation in renewable energy, skill development, health and shipping, and issues related to the Indo-Pacific and the on-going Russia-Ukraine war, in a bilateral meeting in Copenhagen on Tuesday.

Pitching India as an attractive investment destination to the Danish business community, Modi used social media lingo FOMO or `fear of missing out’ to reinforce that those who don’t invest in the country would certainly miss out on opportunity.

“These days the term FOMO or ‘fear of missing out’ is gaining traction on social media. Looking at India’s reforms and investment opportunities, I can say that those who don’t invest in our nation will certainly miss out,” Modi said, addressing the business community in Copenhagen.

The Prime Minister is on a three-day tour of Europe. He has been to Germany and Denmark and is also scheduled to visit Paris.

Pacts signed

Modi and Frederiksen also witnessed the exchange of seven agreements and documents including ones on migration and mobility, green shipping, water, cultural exchange, animal husbandry and start-up collaboration.

While the situation in Ukraine and its impact on the world was discussed by the two leaders, the on-going negotiations on the India-EU FTA and its benefits on the two economies was also delved into.

“The two leaders appreciated the progress in restart of negotiations on India-EU Trade, Investment and Geographical Indicators Agreements and called for a balanced, ambitious, comprehensive and mutually beneficial approach and an early and simultaneous conclusion,” according to the joint statement following the bilateral meeting.

They welcomed the launch of the Trade and Technology Council between EU and India underlining the importance of deep, strategic collaboration on cross-cutting issues related to trade, trusted technology and security. The two leaders also recalled the India-EU Connectivity Partnership and agreed to support efforts towards its early implementation.

“Today, we also discussed many regional and global issues including India-EU relations, Indo-Pacific and Ukraine. We hope that the negotiations on the India-EU Free Trade Agreement will be concluded at the earliest,” Modi said addressing the media after the meeting.

The PM also talked about the need for an immediate ceasefire in Ukraine and urged both sides to return to dialogue and diplomacy to resolve the crisis.

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