Ministers talked India-Belgium trade
The Commerce and Industry Minister Piyush Goyal and Belgian Minister of Foreign Affairs, European Affairs, and Foreign Trade Bernard Quintin have discussed the progress of the EU-India Free Trade Agreement (FTA) negotiations and emphasized the importance of prioritizing trade issues to streamline negotiations and strengthen economic ties https://www.abh-ace.be/en.
During their meeting in Brussels, the two leaders also discussed ways to expand economic cooperation, and explored new avenues to advance partnership between their two countries https://fieo.org/.
They reinforced the longstanding relationship between India and Belgium, built on shared values of democracy, rule of law and independent judiciary.
The India-Belgium trade is estimated at US$15.07 billion in 2023-2024 while Foreign Direct Investments from Belgium into India was estimated at US$3.94 billion https://www.commerce.gov.in/.
During the discussions on 20 Jan, both leaders acknowledged Belgium’s significant reliance on foreign trade and India’s dynamic, growing economy as key factors for leveraging mutual opportunities.
Recognizing the potential of trade as a cornerstone of their partnership, they emphasized the importance of diversifying trade relations and deepening economic diplomacy to achieve sustainable growth, the Commerce and Industry Ministry said on 21 Jan.
Emerging sectors such as renewable energy, life sciences, infrastructure, digital technologies, and food products were highlighted as key areas of collaboration during their meeting https://www.bseindia.com/.
Belgium recognized the importance of engaging with India as a strategic partner to diversify its trade relationships. Regulatory barriers, particularly in the approval processes for pharmaceuticals and agri-products, were also discussed, with both sides agreeing to tackle these challenges through continuous dialogue https://sbi.com.in/.
The meeting concluded with a commitment to establish stronger mechanisms for resolving trade issues. Both leaders affirmed their dedication to fostering a robust and mutually beneficial trade partnership
“This high-level engagement marks a significant step in advancing India-Belgium trade relations, strengthening their shared vision for economic growth and sustainable development,” said the Ministry https://www.nseindia.com/.
The Minister also interacted with European business leaders, representatives of diamond industry and investors in areas of maritime services, solar energy, clean technology, waste treatment and green hydrogen. Fiinews.com
