The two countries also said in a joint statement that both sides are determined to strengthen mutual partnership to accelerate the pace of development and deploy advanced digital technologies that will benefit both countries.
India and the European Union have said that they share fundamental values and have a common interest in ensuring security, prosperity and sustainable development in a multi-polar world. The two countries also said in a joint statement that both sides are determined to strengthen mutual partnership to accelerate the pace of development and deploy advanced digital technologies that will benefit both countries. In a joint statement issued after the first meeting of the India-EU Trade and Technology Council (TTC), the two sides said they are both facing a challenging and volatile global political, economic and security situation.
The meeting, which concluded on Tuesday evening in Brussels, was co-chaired by Executive Vice President Margrethe Vestager and Valdis Dombrovskis from the European side. External Affairs Minister S Jaishankar, Commerce and Industry Minister Piyush Goyal, Skill Development and Information Technology Minister Rajeev Chandrasekhar were present on behalf of India in this meeting. “The geo-strategic challenges reinforce the common interest of the EU and India to ensure security, prosperity and sustainable development based on shared values,” the joint statement said. The TTC will help to increase EU-India bilateral trade, which is currently at a historically high level. Goods worth 120 billion Euros were traded in the year 2022, while digital products and services worth 17 billion Euros were traded in the same year.
According to the statement, the two sides also emphasized the importance of a rules-based international order, full respect for the principles of sovereignty, territorial integrity, transparency and peaceful resolution of disputes. The joint statement called for the annual meeting of the TTC to be held between the EU and India on an alternative basis. Its next meeting is proposed to be held in India in early 2024.
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