India and the European Union are set to boost collaboration in reforming the World Trade Organization (WTO) following the finalization of their free trade agreement. Discussions during the upcoming India-EU Trade and Technology Council meeting in Brussels on July 15 will focus on strengthening the global trading body amidst uncertainties in international commerce.
Darpan Jain, India’s Chief Negotiator for the EU-India Free Trade Agreement, highlighted the shared commitment to reinforcing the WTO while emphasizing the need for necessary reforms. Recognizing the challenges of consensus-building within the WTO’s diverse membership of 164 countries, efforts are underway to drive reforms in the organization.
Christophe Kiener, the European Union’s chief negotiator, revealed that Brussels is actively developing proposals for WTO reform discussions in Geneva. The Trade and Technology Council between India and the EU serves as a dedicated platform for bilateral coordination on WTO reform, with ministers expected to address this issue in their upcoming meeting.
Kiener expressed optimism that the strengthened trade partnership between India and the EU could pave the way for broader multilateral cooperation, aiming for a comprehensive trade deal to enhance legal certainty within the WTO. The recent free trade agreement between India and the EU, covering various sectors including goods, services, and digital trade, is viewed as a strategic partnership encompassing technology, security, and clean energy cooperation.
Jain emphasized the significance of the Trade and Technology Council in advancing cooperation beyond the free trade agreement, focusing on areas like technology, innovation, and economic engagement. The upcoming ministerial meeting in Brussels aims to drive an ambitious agenda for deeper collaboration and tangible outcomes across multiple sectors.
