Tuesday, August 3, 2021

EU, India leaders meeting is moment of profound geopolitical significance, say PM Modi, PM Portugal António Costa

The meeting of the leaders of the European Union and India is a moment of profound geopolitical significance. By bolstering the dialogue between the world’s two largest democratic spaces, it will provide new impetus to our partnership – with a positive effect on international trade and investment. This was stated in a joint Op-Ed by Prime Minister Narendra Modi and Prime Minister of Portugal António Costa written ahead of the pivotal India-EU Leaders’ Summit today.

The Op-Ed said, India’s role as a major regional and global player is set to continue to expand over the coming years, and a strengthened partnership would offer Europe an opportunity to diversify relations in a strategic region of the world. The two leaders said, the EU and India have periodically pledged to expand the cooperation, building on the architecture set out in the1994 Strategic Partnership. But the realization of that ambition has remained a challenge compared to the opportunities offered by our economies, and the dynamics of technological development.

They added that the Porto EU-India Leaders’ Meeting promises to be a pivotal moment in this regard, giving new momentum to the partnership between the world’s two largest democratic spaces, made up of over 1.8 billion people. They said, this dialogue will be crucial to rebalance relations between the EU and the Indo-Pacific. Mr Narendra Modi and António Costa stressed the need to seize this opportunity to elevate the relationship, using the huge potential of democratic spaces to advance trade and investment ties and to support effective multilateralism and a rules-based order.

The two leaders said the meeting is a chance to expand cooperation between the EU and India in new areas of decisive importance for the development of contemporary societies and economies: the digital transition, connectivity, mobility, health, the energy transition and climate action.

The meeting is also an opportunity to give a new impetus to trade and investment negotiations between the EU and India. They added that Portugal and India have always played a unique role in bringing the two continents together, both in the distant and recent past.

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