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Markets: Indian-Polish PMs executive five-year Action Plan

Fiinews by Fiinews
August 23, 2024
in Markets
Reading Time: 6 mins read
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PM in Poland

PM Narendra Modi in a bilateral meeting with the President of Poland Andrzej Duda at Warsaw, in Poland on 22 Aug 2024.

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India-Poland to work on early conclusion of India-EU trade and investment negotiations

Building on the consensus reached by the Prime Ministers of India and Poland, Narendra Modi and Donald Tusk, during talks held on 22 Aug 2024, in Warsaw and recognising the momentum in bilateral cooperation created by the establishment of the Strategic Partnership, agreed to formulate and execute a five-year Action Plan that will guide bilateral collaboration in the years 2024-2028 in priority areas gpw.pl.

Both sides will ensure regular monitoring of the implementation of the Action Plan, with the annual political consultation as the primary mechanism for reviewing and updating the activities commerce . The extension of the Action Plan for another five-year period will be adopted by the respective ministers in charge of foreign affairs, said the Prime Minister’s Office.

Further, recognizing that the EU and India are key international partners with a significant role in promoting peace, stability and prosperity euronext , both sides will support the early conclusion of the ongoing India-EU trade and investment negotiations, the operationalization of the India-EU Trade and Technology Council (TTC), and the implementation of the India-EU Connectivity Partnership to advance the India-EU Strategic Partnership in trade, new technologies and security deutsche-boerse .

The five-year Action Plan will guide bilateral collaboration across the following areas as priorities sbi :

Political Dialogue and Security Cooperation

The two sides will maintain regular contacts between foreign ministers, and they will use both bilateral and multilateral fora for these interactions ibef .

Both sides will consider supporting each other’s aspirations on a case-by-case basis to contribute to multilateral cooperation in the spirit of the United Nations Charter un .

The two sides will ensure holding of annual political dialogue at the level of deputy minister in charge of foreign relations mea .

The two sides will encourage relevant institutions to hold regular consultations on security and defence cooperation to promote contact between defence industries, modernise military equipment, and address outstanding issues sidm.in/ .

The two sides decided that the next round of the Joint Working Group for defence cooperation will take place in 2024.

Trade and Investment

Recognizing opportunities in high-tech, agriculture, agritech, food tech, energy, climate, green technologies, infrastructure, smart cities, defense, healthcare, pharmaceuticals, and mining, the two sides will explore further cooperation in these sectors during next Joint Commission for Economic Cooperation (JCEC) meeting scheduled for the end of 2024 jpx .

The two sides will strive to organize meetings of JCEC at least twice every five years, with the possibility of more frequent meetings, if necessary.

Both sides will work towards achieving balanced bilateral trade and addressing all issues to facilitate smooth trade and investment nse .

Both sides will enhance cooperation in economic security by focusing on increasing supply chain resilience and mitigating risks associated with trade dependencies bse .

Climate, Energy, Mining, Science and Technology

The two sides will expand their cooperation in sustainable and environmentally friendly technological solutions for the circular economy and waste-water management unfccc .

Acknowledging their historical reliance on domestic supplies for energy security, both sides will work together on advancing cleaner energy approaches and exploring cooperation in Clean Coal Technologies worldcoal to minimize environmental impact.

Recognizing the crucial role of innovation and the growing importance of critical minerals, the two sides will collaborate on advanced mining systems, high-tech machinery, pioneering safety standards, and increase exchanges and cooperation in mining-related industries.

Both sides agreed to work on concluding a cooperation agreement to promote the safe, sustainable, and secure use of space and commercial space ecosystems. They also agreed to promote human and robotic exploration.

Poland recognizes India’s ambition to join the International Energy Agency iea .

Transport and Connectivity

The two sides will explore developing cooperation in the field of transport infrastructure conexpoconagg .

The two sides will work to enhance connectivity between their countries and respective regions by discussing and pursuing further expansion of flight connections iata .

Terrorism

The two sides reiterated their unequivocal condemnation of terrorism in all its forms and manifestations and emphasized that no country should provide a safe haven to those who finance, plan, support or commit terrorist acts. Both sides will make concerted efforts against all terrorists, including by designating individuals affiliated with groups that are listed by the UN Security Council 1267 sanctions committee.

Cyber Security

Recognizing the critical importance of cyber security for economic and social development, both sides will enhance close interaction and increased exchanges in ICT-related fields, with particular attention to international cooperation, legislative and regulatory solutions, judicial and police activities, deterrence, prevention and responses to cyber-attacks, awareness-building and educational programs, scientific and technological research and development, business and economic exchanges cybersecurityworldasia .

Health

Both sides underlined the vital role of strengthening collaboration in the field of health by exchanging and sharing information on areas of mutual interest, enhancing contacts among health experts, and supporting cooperation between health institutions in both countries who .

People-to-People Ties and Cultural Cooperation

Both sides will work together to implement the Agreement on Social Security and they will make efforts to complete their respective internal legal procedures in this regard.

The two sides will strengthen cooperation between cultural institutions and organisations of the two countries. The two sides will strengthen exchanges between artists, language experts, scholars, and cultural institutions from both countries. They will also explore establishing cooperation and dialogue between their think tanks and experts .

The two sides will work together to strengthen cooperation in higher education and encourage universities from both sides to organise relevant activities. They will also encourage respective authorities to establish partnerships between academic institutions in both countries.

Both sides emphasized importance of education and linguistic and cultural exchange in building mutual understanding and fostering bilateral cultural ties. They also recognized the role of Hindi and Indian studies in Poland and Polish language and culture studies in India and agreed to work on an agreement between Polish National Agency for Academic Exchange and respective Indian agencies on teaching Polish language at various universities in India.

Both sides will continue to expand tourist flows in both directions by strengthening cooperation in tourism. This includes organizing tourism missions, arranging family trips for influencers and travel agencies, and participating in tourism fairs and roadshows in both countries.

To mark the 75th Anniversary of the establishment of Diplomatic Relations, both sides will hold cultural festivals in each-others countries organized by the diplomatic missions. Dates for such special events will be decided in mutual consultations.

Both sides will also promote a Student Exchange Programme and build mutual understanding with younger generation. Fiinews.com

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