Modi says India-EU trade deal expected by year end

Reuters

India expects to conclude a free trade agreement with the European Union by the end of 2024, Prime Minister Narendra Modi said during his visit to Cyprus.

Speaking alongside Cypriot President Nikos Christodoulides on Monday, India's Prime Minister Modi emphasized the vast potential for economic cooperation between India and Cyprus, adding that finalizing the India-EU trade deal is a key priority.

“We are working on finalising a mutually beneficial India-EU trade agreement by the end of this year,” Modi said. He also highlighted the strategic importance of the India-Middle East-Europe Corridor, calling it a pathway to “peace and prosperity” amid rising tensions in the region.

Christodoulides confirmed Cyprus’ commitment to supporting India’s global trade goals, offering the island as a gateway for Indian goods into Europe. He also stated that strengthening ties with India will be a priority when Cyprus takes over the EU presidency in 2026.

India and Cyprus, both members of the Commonwealth, are exploring ways to deepen their trade, logistics, and geopolitical collaboration as regional and global trade dynamics shift.

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