Business · Malaysia Bureau
Modi set to formalise EU trade agreement during Brussels visit
Indian Prime Minister Narendra Modi is expected to sign a landmark trade pact with the European Union in December, concluding months of negotiations between the two economic powers.
LSN Malaysia ·
India and the EU reached consensus on the broad terms of their bilateral trade agreement earlier in 2024, marking a significant step toward deepening commercial ties between New Delhi and the 27-member bloc. However, the accord has remained unsigned pending formal ceremonies and final procedural approvals from both sides.
Modi's scheduled December visit to Brussels will provide the occasion for the formal signing, according to officials familiar with the arrangements. The agreement is expected to cover tariff reductions, services trade, and investment protections across multiple economic sectors.
The trade deal represents a strategic priority for both parties amid shifting global economic dynamics. For India, the accord opens pathways to European markets and technology partnerships. For the EU, the agreement strengthens economic engagement with a major Asian economy and diversifies its trading relationships beyond traditional partners.
Final details regarding the timing and scope of Modi's Brussels engagement are expected to be confirmed in coming weeks. The signing would cap negotiations that have extended over several years, reflecting the complexity of aligning regulatory frameworks and commercial interests across two diverse economic systems.
Both New Delhi and Brussels have indicated their commitment to bringing the agreement into effect swiftly following formal execution, with implementing measures anticipated to roll out incrementally over coming months.