Iran Press/ Asia: India and the European Union have vowed to deepen trade ties on Wednesday, with the two sides agreeing to set up a high-level ministerial dialogue on trade and investment, according to Deutsche Welle.
However, after the videoconference, no mention was made on the time frame of a free trade agreement that has been under discussion for several years.
"The high-level dialogue will aim at fostering progress on the trade and investment agreements, addressing trade irritants and improving conditions for traders and investors on both sides as well as discuss supply chain linkages," a joint statement said after the talks.
The summit was led by Indian Prime Minister Narendra Modi, European Council President Charles Michel, and European Commission President Ursula von der Leyen.
"As the world’s largest democracies, the EU and India must work more closely to promote and protect our shared interests, based on effective multilateralism, the rule of law and human rights," von der Leyen wrote on Twitter.
The EU is India's largest trading partner with two-way trade amounting to $115.6 billion (€101.3 billion) in 2018-19.
220
Read More:
Iran, India plan to develop rail, road transport
China ready to cooperate with Europe on global matters
Iran's trade with Eurasia exceeds over $2 billion
