Expect India-EU FTA to come into force this year, says Swedish trade commissioner

Indore: Sweden's Trade and Invest Commissioner to India Sofia Högman on Tuesday said she expects the proposed free trade agreement between India and the European Union (EU) to come into force this year.

Högman stressed that this agreement will open new doors for increasing the bilateral partnership between India and Sweden.

India and the EU are discussing the free trade agreement in a phased manner. Both sides completed the 10th round of talks for the proposed agreement in Brussels last month. The next round of talks is expected to be held in New Delhi in May.

Trade experts believe that it is important to strengthen economic relations between India and the EU in view of US President Donald Trump's high tariff policy. Sweden is one of the 27 countries associated with the EU.

Sweden's Trade Commissioner Högman, speaking with reporters here on the sidelines of an event, said that a delegation led by European Commission President Ursula von der Leyen visited India at the end of February and dialogue between India and the EU on a free trade agreement has intensified this year.

She said, “If we talk about what is going on in the world today, of course, we have hopes and ambitions that the (proposed) free trade agreement between the EU and India will come into place during this year. The agreement would, of course, even more foster the great collaboration that we already have between Sweden and India.

Högman was replying to a question on the impact of the new high tariff policy of the US on bilateral cooperation between India and Sweden in the field of green technology.