On the sidelines of the 14th WTO Ministerial Conference (MC-14) held in Yaounde, Cameroon, Union minister of commerce and industry, Piyush Goyal, held a bilateral meeting with EU Trade Commissioner, Maros Sefcovic.
Both sides exchanged views on the MC-14 agenda, reviewed progress on the signing of the recently concluded India–EU Free Trade Agreement (FTA), and explored options to further enhance bilateral trade and economic cooperation.
Focus on WTO reforms and key trade issues
During discussions on the MC-14 agenda, both leaders agreed on the necessity of reforms in the World Trade Organisation.
Goyal emphasised that the WTO reform agenda should remain strictly member-driven. The two leaders also exchanged views on key issues, including the moratorium on customs duties on electronic transmissions and the incorporation of the Investment Facilitation for Development Agreement.
Progress on India–EU free trade agreement
Reviewing the progress towards signing the India–EU FTA, Goyal appreciated the pragmatic approach adopted by both sides, which enabled the timely and mutually beneficial conclusion of negotiations.
Both sides agreed to expedite the necessary processes to facilitate the early signing of the agreement, ensuring that businesses and citizens in India and the EU can realise its expected benefits at the earliest.
Officials-level bilateral engagement
Prior to the ministerial-level meeting, Indian commerce secretary Rajesh Agrawal also held a bilateral discussion with his EU counterpart, Sabine Weyand, director-general for trade.