Narendra Modi is the prime minister of India. António Costa is the prime minister of Portugal, which presently holds the rotating presidency of the Council of the European Union.
The assembly of the leaders of the European Union and India taking place tomorrow is a second of profound geopolitical significance. By bolstering the dialogue between the world’s two largest democratic areas, it would present new impetus to our partnership — with a constructive impact on worldwide commerce and funding.
India’s position as a significant regional and world participant is about to proceed to increase over the approaching years, and a strengthened partnership would supply Europe a chance to diversify relations in a strategic area of the world.
The EU and India have periodically pledged to increase our cooperation, constructing on the structure set out in our 1994 Strategic Partnership. However the realization of that ambition has remained a challenge in comparison with the alternatives supplied by our economies, and the dynamics of technological growth.
The Porto EU-India Leaders’ Assembly guarantees to be a pivotal second on this regard, giving new momentum to the partnership between the world’s two largest democratic areas, made up of over 1.eight billion folks. This dialogue will likely be essential to rebalance relations between the EU and the Indo-Pacific. It’s key for us to reaffirm our agency perception in democracy, rule of regulation, tolerance and the universality and indivisibility of human rights.
We should seize this chance to raise our relationship, utilizing the massive potential of our democratic areas to advance commerce and funding ties and to assist efficient multilateralism and a rules-based order.
The assembly is an opportunity to increase cooperation between the EU and India in new areas of decisive significance for the event of latest societies and economies: the digital transition, connectivity, mobility, well being, the vitality transition and local weather motion.
The EU and India are already key companions in problems with rising relevance for the event and sustainability of our societies. Tomorrow, we’ll open and widen new paths of cooperation. For instance, the EU and India will launch a Connectivity Partnership aiming at furthering the cooperation on transport, vitality, digital and people-to-people contacts.
The assembly can also be a chance to provide a brand new impetus to commerce and funding negotiations between the EU and India.
The EU is India’s greatest buying and selling accomplice and the second largest vacation spot for Indian exports. Commerce between the EU and India has elevated 72 p.c within the final decade. The EU can also be the main overseas investor in India. Its share in overseas funding inflows has greater than doubled within the final decade. Some 6,000 European corporations are current in India, producing 1.7 million direct and 5 million oblique jobs. Rising investments from India in recent times have additionally meant energetic presence of Indian corporations within the EU as effectively.
It’s the proper time to renew negotiations towards an formidable and balanced commerce settlement able to appearing as a key driver for sustainable development and jobs creation, each for India and Europe. Other than every little thing else, an EU-India settlement would ship a strong sign to the world in assist of the advantages of worldwide commerce cooperation.
The same rationale applies to funding. The negotiation of an EU huge funding safety framework would supply higher stability and certainty to corporations from India and EU to increase their presence in one another’s markets.
EU-India relations have all the time been marked by mutual assist and solidarity. This has been evident throughout the coronavirus pandemic, when each have supported one another and the remainder of the world. India prolonged medical provides to Europe earlier and now the EU has prolonged help to India because it experiences a second wave of COVID-19.
Portugal and India have all the time performed a novel position in bringing the 2 continents collectively, each within the distant and up to date previous. Portugal hosted the primary ever EU-India Summit in Lisbon, throughout the 2000 Portuguese EU Presidency and India hosted the eighth EU-India Summit in New Delhi, in 2007, additionally throughout a Portuguese Presidency.
The Indian Nobel laureate in Literature Rabindranath Tagore, who was born 160 years in the past on Might 9, travelled extensively in Europe in numerous intervals of his life. The good poet was a staunch believer within the ideas of mutual understanding between peoples and in India’s mission to convey collectively the East and the West. He wrote regularly in regards to the assembly of Europe and India, to which he attributed deep cultural, political and even private significance: “I’ve felt the assembly of the East and the West in my very own particular person life.”
In an identical method, the epic poem that higher represents Portuguese id narrates a journey to India. “The Lusiads” by Luis Vaz de Camões can also be an account of a gathering between Europe and India.
That makes us notably acutely aware of the deserves of a relationship spanning two continents and linking two huge oceans that has developed to accompany the massive transformations in our nations and societies. It is necessary we don’t let this second move us by.
The journey collectively between the EU and India will likely be continued and superior as of tomorrow in quest of new routes of political, financial and technological cooperation, with huge potential for mutual advantages.