Reuben Gauci, the High Commissioner of Malta to India, expressed optimism about the potential signing of the EU-India Free Trade Agreement (FTA). Gauci highlighted the significance of the upcoming visit of European Union (EU) leaders to India, indicating that New Delhi is a top priority for the EU.
European Commission President Ursula von der Leyen and European Council chief Antonio Costa are set to visit India for the Republic Day celebrations and the EU-India Summit. Gauci referred to the possible FTA signing as a “historical” and “mother of all deals,” emphasizing the progress made in negotiations since the visit of the European Commission chief last year.
Gauci noted that Malta, as one of the smallest EU member states, sees the FTA as an opportunity to boost trade with India. He mentioned the current trade deficit, with Malta importing significantly more from India than it exports, and expressed the desire to balance this through the EU-India FTA.
The High Commissioner highlighted the EU’s exclusive competence for trade agreements with non-EU countries. Gauci underscored the complexity of the EU-India FTA negotiations, describing it as a significant deal due to the economic activities and investments involved.
Gauci emphasized the importance of the FTA amid the US tariff increase, stating that it would provide stability in uncertain times. He praised Prime Minister Narendra Modi’s leadership and suggested that signing the FTA would be another achievement for him.
