New Delhi: In an exclusive interview with ETV Bharat, the European Union's Ambassador to India, Ugo Astuto, said that the India-Middle East-Europe Economic Corridor is a very significant development. "A group of partners coming together to implement projects of infrastructure and bringing together India, the Middle East, and the European Union. It is an initiative that is underpinned by the principles of balance, inclusivity, and sustainability".
He said that the European Union's global gateway strategy project for boosting clean and secure links in the digital, energy, and transport spheres, fits very well with the India-Middle East-Europe Economic Corridor (IMEC) that will reshape the Eurasian connectivity.
"I think this is a momentous occasion to make the cooperation among the partners more concrete," Astuto added.
EU's Global Gateway stands for sustainable and trusted connections that work for people and the planet. It helps to tackle the most pressing global challenges, from fighting climate change to improving health systems and boosting the competitiveness and security of global supply chains.
In response to the question of whether the new economic corridor is a direct challenge to China's Belt and Road (BRI) initiative, the EU envoy said, "It is a positive initiative with a positive agenda and not to be directed towards anyone".
When asked about his experience serving as an EU envoy in India, he said, "I was very lucky to serve as an Ambassador in India for four years. It has been very dynamic years and we have seen our strategic partnership growing. For instance, the India-EU summit in 2021 in Porto, was extraordinary because we had all the member states meeting the Indian Prime Minister, and there we had the momentous decision to restart the free trade agreement (FTA) talks."
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"Another landmark was the visit of European Commission President Ursula Von der Leyen in 2022 and the very significant decision to start the Trade and Technology Council (TTC). The only other one we have in place is with the US. That’s a clear testament to the level of maturity of our relationship," Astuto said.
On the question of the status of the India- EU free trade agreement, the EU ambassador to India said, "Five rounds of FTA have taken place and the sixth round is yet to take place. He added that a very positive interaction between European Commission Executive Vice President Vladis Dombrovskis and Commerce Minister Piyush Goyal took place during his recent visit to India for a G20 meeting.
"What struck me was the positive atmosphere during the discussions. We have achieved progress. It is a complex negotiation but there is an equal determination from both sides to achieve a positive outcome," he asserted.
While on the India-EU partnership, he said," It is a successful partnership which is growing and will continue to grow. India is the fifth largest economy and EU is the largest trade bloc, and together both can shape the global agenda."
