India-EU To Further Deepen Bilateral Economic, Trade Partnership: Piyush Goyal

(MENAFN- IANS) New Delhi, March 29 (IANS) Commerce and Industry Minister Piyush Goyal met Maros Sefcovic, European Commissioner for Trade and Economic Security, on the sidelines of the 14th Ministerial Conference (MC14) of the World Trade Organisation (WTO) in Cameroon, and reviewed progress on the India-EU free trade agreement (FTA).

Both the leaders deliberated on key priorities under the MC14 agenda and“reviewed progress on the ongoing work towards the signing of the India-EU FTA, as announced by PM Narendra Modi and European Commission President Ursula von der Leyen in January 2026 in New Delhi.

“Also discussed avenues to further deepen our bilateral economic and trade partnership,” said Goyal in an X post.

Goyal also met Nigeria’s Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole.

“Had discussions on MC14 agenda and explored opportunities to further strengthen trade and economic cooperation between the two nations,” Goyal noted.

A constructive conversation with Mauro Vieira, Minister of Foreign Affairs of Brazil, resulted in exchanging views on the MC14 agenda, along with enhancing bilateral trade ties, and the expansion of the India-MERCOSUR PTA.

At the WTO meeting, drawing inspiration from Mahatma Gandhi’s philosophy of truth prevailing over conformity, India showed the courage to stand alone on the contentious issue of the Investment Facilitation for Development (IFD) Agreement and did not agree to its incorporation into the WTO framework as an Annex 4 Agreement.

“Incorporation of the IFD Agreement risks eroding the functional limits of the WTO and undermining its foundational principles,” said Goyal.

As part of WTO reform discussions, Members are discussing guardrails and legal safeguards for plurilaterals before the integration of any specific plurilateral outcome.

“In view of the systemic issue at hand, India showed openness to have good faith, comprehensive discussions and constructive engagement under the WTO Reform Agenda,” the minister highlighted.

Goyal also met diaspora in Cameroon, which is a vital bridge strengthening bonds, fostering goodwill, and bringing our nations closer together.

“Delighted to address the Indian Community Reception in Cameroon and highlight the immense potential to further deepen our bilateral relations,” said Goyal.

-IANS

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