The agreement with Indonesia is ready for signing. Many trade barriers will be removed, making it easier to export Indonesian products to Europe. European companies will also gain more certainty and access to a large growth market.
Negotiations with India are nearly complete. Both parties are working on finalizing the last details so that an agreement can be signed before the end of this year. The deal covers not only trade in goods but also investments, aviation, innovation, and cooperation in technology and clean energy.
However, there are still challenging issues. For example, electric vehicles and agricultural products are sensitive topics in the discussions. Both sides want to reach agreements that protect their domestic producers while creating new opportunities for export and collaboration.
India is playing an increasingly significant global role. The country is one of the fastest-growing economies and an important trade partner for Europe. An agreement could therefore bring major benefits for both sides, including increased trade, new jobs, and investments.
At the same time, the EU is scrutinizing India's position in global politics. New Delhi's close ties with Moscow and cooperation with China are causing concern in Brussels. The Prime Minister recently attended a summit conference of the new anti-Western alliance of China, Russia, Iran, and North Korea.
For the EU, it is important to conclude more trade agreements now. Recently, a final decision was made on the Mercosur trade deal with four South American countries. By cooperating with countries in Asia and Africa, Europe aims to become less dependent on the United States and gain more security regarding raw materials and supply chains.
The international situation makes this especially important. Major economies are increasingly protecting their domestic markets, which intensifies global competition.