Remarks on the New Strategic EU-India Agenda
Thank you, Madam High-Representative [dear Kaja]. Trade is one of the cornerstones of the EU-India Strategic Agenda – and it is essential to maintain steady efforts on both sides to strengthen the momentum.
Trade between our economies has grown by 90% over the past decade.
In 2024, we traded goods worth some €120 billion, making the European Union Indias largest trading partner, ahead of the U.S. and China.
Over 6,000 European companies now operate in India, employing 2 million people directly, and supporting another 6 million jobs indirectly.
In just five years, EU investment in India has nearly doubled to €140 billion, making us one of Indias top investors.
And yet, we have only scratched the surface.
A commercially meaningful EU-India Free Trade Agreement would unlock vast potential. By tackling both tariff and non-tariff barriers, we can drive new waves of trade and investment, strengthen our supply chains, and help safeguard open, rules-based global commerce.
Our shared ambition is clear: to conclude negotiations by the end of this year. But as always, steady determination will be key – and we still have some ground to cover.
As you know, I travelled to India last week – my third visit this year – in an effort to advance the negotiations, which have now reached 13 rounds.
I must admit, however, that I had hoped for more progress.
I remain in frequent contact with my counterpart, Minister Goyal, as there is undoubtedly much to gain – for both the EU and India – if we get this right.
Thank you.
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Remarks on the package of proposals on Israel
Thank you, Madam High-Representative [dear Kaja], for providing the broader context. Let me now turn to the proposal at hand – the suspension of core trade-related provisions of the Euro-Mediterranean Agreement in relation to Israel.
This proposal is grounded in Articles 2 and 79 of the Agreement, which establish the respect for human rights and democratic principles as essential elements for our partnership.
The proposed suspension targets tariff preferences granted to Israel, encompassing free movement of goods; right of establishment and supply of services; public procurement, competition and intellectual property.
In practice this means that imports from Israel to the EU will lose their preferential access to the EU market and that these goods will be charged duties at the level applied to any other third country with whom the EU has no free trade agreement.
We regret having to take this step. However, we believe it is both appropriate and proportionate, given the ongoing humanitarian crisis in Gaza.
The Council will decide on this measure by qualified majority, while the European Parliament will be duly informed.
Now, turning to the trade relationship between the EU and Israel. Total trade in goods in 2024 amounted to €42.6 billion.
The EU remains Israels number one trading partner. In 2024, the EU accounted for 32% of Israels total trade in goods.
In light of these figures, and the principles at stake, the proposed partial suspension is a carefully considered response to an increasingly urgent situation.
Let me reiterate that since the atrocities of October 7, the world has witnessed unimaginable suffering.
The EU immediately condemned in the strongest terms Hamass indiscriminate attacks across Israel and expressed solidarity with Israels right to defend itself. Sanctions against Hamas swiftly followed.
Now, we must work together to end the humanitarian crisis in Gaza. This means unrestrained access for humanitarian aid, the immediate release of all hostages held by Hamas, and an urgent ceasefire to stop the bloodshed.
Ultimately, Israel needs real security, and the Palestinian people need real dignity.
Thank you.
