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India-EU FTA Progress Reviewed, Goyal Stands Firm at WTO Meeting

Commerce Minister Piyush Goyal met with European Commissioner Maros Sefcovic to review progress on the India-EU Free Trade Agreement during the WTO Ministerial Conference in Cameroon. Goyal also held bilateral meetings with trade ministers from Nigeria and Brazil to strengthen economic cooperation. At the WTO, India took a solitary stand against incorporating the Investment Facilitation for Development Agreement, warning it could undermine the organization's foundational principles. The minister also engaged with the Indian diaspora in Cameroon, highlighting their role in strengthening bilateral relations.

Key Points: India-EU Trade Deal Talks Advance, Goyal Outlines WTO Stance

  • India-EU FTA progress reviewed
  • India stood alone against IFD Agreement at WTO
  • Meetings with Nigeria, Brazil on trade ties
  • WTO reform discussions on plurilaterals
2 min read

India-EU to further deepen bilateral economic, trade partnership: Piyush Goyal

Commerce Minister Piyush Goyal reviews India-EU FTA progress at WTO MC14, meets global counterparts, and explains India's firm stance on investment agreement.

"Incorporation of the IFD Agreement risks eroding the functional limits of the WTO - Piyush Goyal"

New Delhi, March 29

Commerce and Industry Minister Piyush Goyal met Maros Sefcovic, European Commissioner for Trade and Economic Security, on the sidelines of the 14th Ministerial Conference of the World Trade Organisation in Cameroon, and reviewed progress on the India-EU free trade agreement.

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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Reader Comments

R
Rohit P
Good to see India standing firm at the WTO on the IFD Agreement. We must protect our policy space for development. Sometimes, standing alone for principles is necessary. Kudos to the negotiating team.
A
Aman W
While the EU FTA is promising, I hope our negotiators are tough on agriculture and dairy. Our farmers' interests must be safeguarded at all costs. No compromise on that front.
S
Sarah B
The engagement with Nigeria and Brazil is equally important. South-South cooperation is key for a multipolar world. Expanding the MERCOSUR deal can open up Latin American markets for Indian products.
V
Vikram M
Connecting with the diaspora is a smart move. Our community abroad is our soft power and can be instrumental in building trade networks. Hope this FTA gets finalized without further delays.
K
Karthik V
I appreciate the principled stand at WTO, but we also need to be pragmatic. Hope our "openness to discussion" leads to a constructive outcome that benefits developing nations, not just a symbolic victory.

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