New Delhi: India's relationship with the Nordic-Baltic countries is truly promising and there are natural synergies between the regions that pave the way for expanding and deepening our relationship further, said External Affairs Minister (EAM) S Jaishankar.
The EAM was speaking at the 2nd India Nordic Baltic Business Conclave organised by the Ministry of External Affairs and the Confederation of Indian Industry (CII) here. The Minister added that India’s G20 Presidency provided a unique opportunity for closer cooperation with Europe and building deeper ties with the Global South. India and Nordic-Baltic countries (NB8) can join hands in this regard to address the challenges of the Global South together and in advancing the Global Biofuels Alliance.
The Minister further noted the important role played by the Nordic-Baltic countries as leaders in innovation, start-ups, tech applications and digital progress. Reflecting on the expanding engagement between the two countries, Jaishankar highlighted the many positive developments between the two regions in recent times.
These include, among others, the establishment of appropriate institutional frameworks for closer business-to-business cooperation, plans to open a resident Indian embassy in Latvia, and direct flights between India-Finland and India-Denmark facilitating mobility. Many initiatives are underway including sustainability partnerships, digitalisation dialogues, and cooperation in the areas of renewable energy, water solutions, green hydrogen, and agriculture, among others.
He also highlighted the many opportunities for the NB8 countries in India for expanded trade and investments, joint Research and Development projects, rare earth minerals, and telemedicine. Jaishankar also threw light on the various structural reforms undertaken in India under Prime Minister Narendra Modi's leadership and stated that India has entered the Amrit Kaal where more significant progress is awaited. He also added that the ongoing negotiations of the India-EU FTA and the EFTA TEPA negotiations also present many opportunities for greater collaboration between the regions.
Ville Tavio, Minister for Development Cooperation and Foreign Trade, Republic of Finland, emphasised that India and Finland, with their complementary skills, can work together to find common solutions to the many global challenges and bring several positive outcomes in the areas of sustainability, digitalisation, education, and science and innovation.
Niklas Wykman, Minister for Financial Markets, Kingdom of Sweden stated that India as one of the largest and fast-growing economies in the world provides many opportunities and is an important region for Sweden, while Sweden offers many advantages to India as it is endowed with strong knowledge, innovation, and entrepreneurial base. The Minister also highlighted the importance of removing barriers to trade to accelerate economic growth.
Meanwhile, Aksel Vilhelmson Johannesen, Prime Minister, of the Faroe Islands, stated that India and the Faroe Islands both possess deep knowledge in fishing expertise and can work together in building a strong partnership in this area. He added that there is strong potential for cooperation between the two regions in the aquaculture sector as well. Given India's skilled workforce and IT strengths, there is huge potential to boost education and research, the Minister concluded.
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