India-Netherlands to eliminate trade and investment barriers
The newly established India–Netherlands Joint Trade and Investment Committee (JTIC), under a Memorandum of Understanding (MoU), marks an important milestone in further strengthening bilateral trade, investment, and economic cooperation between the two countries.
The MoU, signed between Ministry of Commerce and Industry and the Dutch Ministry of Foreign Affairs, was formally announced on 19 Dec on the occasion of the visit of the Dutch Foreign Minister David van Weel to India and his bilateral meeting with the Minister of External Affairs Minister Dr. S Jaishankar.
The MoU provides for establishment of the JTIC, a formal institutional framework for regular dialogue and cooperation on trade and investment matters. The JTIC will serve as a dedicated mechanism to review bilateral trade relations, promote two-way investments, address investment and trade barriers, and explore collaboration in sectors of mutual interest.
Under the MoU, the JTIC will meet annually, alternately in India and the Netherlands, ensuring continuity and sustained engagement at the institutional level. The JTIC will be co-chaired by Additional Secretary, Department of Commerce, Ministry of Commerce and Industry and the Dutch Director General (Foreign Economic Relations), Ministry of Foreign Affairs. It would comprise delegations of both sides consisting of government officials and other members as designated.
The objectives of the JTIC are to:
Contribute to identification and elimination of trade and investment barriers;
Contribute to identification of trade and investment facilitation measures, including in the focus areas of cooperation;
Promote interaction between various Chambers of Commerce and Industry between the two countries; especially in Micro, Small and Medium Enterprises (MSME); and
Explore enhancement of cooperation in sectors of mutual interest including organizing consultations between the private sector and the governments, where required, for enhancing bilateral trade and investment flows including exchange of technical knowhow and transfer of technological innovation especially in the small and micro sector.
The signing of the MoU reflects the shared commitment of the Indian and Dutch Governments to deepen their economic partnership, foster resilient and diversified supply chains, and promote sustainable and inclusive growth. It also complements ongoing bilateral and multilateral engagements, reinforcing the strategic dimension of India–Netherlands relations.
Both sides expressed confidence that the JTIC, established under the MoU, will play a pivotal role in advancing mutually beneficial trade and investment outcomes, said the Ministry of Commerce and Industry. Fiinews.com
