Piyush Goyal meets EU Trade Commissioner, discusses progress on signing FTA
By R Anil Kumar
Milwaukee, Wisconsin, United States/ Bengaluru, Oct 1. Commerce Minister Piyush Goyal met European Trade Commissioner Maros Sefcovic and reviewed the progress towards signing the India-EU Free Trade Agreement.
Goyal met Sefcovic on the sidelines of the G20 Trade Ministers’ meeting in Milwaukee.
“Good meeting my friend, Mr. @MarosSefcovic, European Commissioner for Trade and Economic Security, on the sidelines of the G20 Trade Ministers’ Meeting,” Goyal said in a post on X.
The minister said he and Sefcovic reviewed progress towards the signing and entry into force of the India-EU FTA.
“Also exchanged views on progress under the India-EU Trade and Technology Council, meaningful WTO reform and shared G20 priorities,” Goyal said.
India and the EU concluded the free trade agreement in January this year, almost two decades after launching the initial negotiations in 2007.
On September 11, the European Commission formally requested the Council of the European Union to authorise the signing and conclusion of the India-EU Free Trade Agreement.
The India-EU FTA, dubbed the “mother of all deals” by leaders on both sides, is expected to be signed later this year and implemented in early 2027.
On becoming effective, the FTA is expected to expand market access, reduce tariffs, address non-tariff barriers, and establish more predictable rules governing trade and investment between the two economies.
The EU and India currently exchange goods and services valued at more than 180 billion euros annually.
Goyal warns fertiliser shortage could trigger food crisis, flags Global South concerns at G20 Trade Ministers’ meet
Union Minister of Commerce and Industry Piyush Goyal said countries of the Global South are among those most adversely affected by the food, fuel and fertiliser crises triggered by global conflicts, warning that today’s fertiliser shortage could become tomorrow’s food crisis.
Participating in the opening day of the G20 Trade Ministers’ Meeting in Milwaukee, Wisconsin, hosted under the United States G20 Presidency, on October 1, Goyal said India ensured food security for more than 1.4 billion people during the COVID-19 pandemic and supplied foodgrains to several countries in need.
He noted that more than 800 million people in India are currently being provided foodgrains free of cost, according to a press release by the Ministry of Commerce & Industry.
Food must never be used as an instrument of pressure against any country
Speaking at the session on food and trade, Goyal thanked the US Presidency for placing food security at the centre of discussions. He said ensuring food security for all and creating greater opportunities for farmers remain central to India’s policy and stressed that food must never be used as an instrument of pressure against any country.
He underlined the need for a balanced approach that protects food security while ensuring fair opportunities for farmers and maintaining a predictable global trading environment.
India highlights WTO-backed food security measures
Goyal said India maintains public stockholding and procures foodgrains from small and marginal farmers while adopting temporary and transparent measures, when required due to harvest shortfalls, to ensure the availability and affordability of food.
He said such measures are recognised under WTO frameworks, including the Bali Ministerial Decision and the Geneva Ministerial Declaration. Goyal called for a clear distinction between legitimate measures taken to safeguard food security and coercive trade actions.
Goyal reaffirms commitment to rules-based global trade
The Minister also referred to existing mechanisms to strengthen food and agricultural trade cooperation, including the G20 Agricultural Market Information System, established in 2011, and the exemption of purchases by the World Food Programme from export restrictions, adopted at the 12th Ministerial Conference of the WTO.
Goyal reaffirmed India’s commitment to a rules-based, fair, non-discriminatory, equitable, transparent, open, inclusive and multilateral trading system, with the World Trade Organization at its core.
G20 ministers reach consensus on food trade outcome document
The G20 Trade Ministers reached consensus on the outcome document, ‘G20 Statement on the Weaponization of Food through Coercive Trade Actions’, and expressed their intent to continue cooperation on the issue.
Earlier in the day, Goyal joined G20 Trade Ministers and Ambassador Jamieson Greer, United States Trade Representative, on a visit to the Rockwell Automation office and factory in Mequon, Wisconsin.
Goyal holds bilateral meetings with key trading partners
On the sidelines of the meeting, Goyal held bilateral discussions with the Minister of Development, Industry, Trade and Services and the Foreign Minister of Brazil; the United States Trade Representative; the European Commissioner for Trade and Economic Security; the Secretary of State for Business, Innovation, Science and Trade and President of the Board of Trade of the United Kingdom; the Secretary of Economy of Mexico; and the Minister of Finance and Economy of the Republic of Poland.
The Minister also attended a welcome dinner hosted by Ambassador Greer and Secretary Rollins of the United States Department of Agriculture at the Milwaukee Art Museum.
