Finland’s Prime Minister Petteri Orpo voiced strong support for a major new trade agreement between the European Union and India following discussions with Indian Prime Minister Narendra Modi in New Delhi on Wednesday.
The comprehensive trade pact, finalized at the end of January, will slash tariffs on the majority of goods while helping both regions reduce their dependence on American trade relationships as global commerce tensions continue to escalate.
Speaking to Reuters by phone, Orpo emphasized the deal’s significance in the current international climate. “In today’s world, the value of the trade agreement is extremely high. What we need globally is more free trade, not tariffs,” the Finnish leader stated.
According to a statement from the Indian Prime Minister’s Office, both leaders expressed enthusiasm for the EU-India agreement, describing it as something “which will serve as a catalyst for shared progress and prosperity.”
Officials anticipate the trade deal will take effect within the next twelve months.
While the European Union’s approval process has sometimes encountered hurdles – as seen with the Mercosur trade agreement that EU legislators are now challenging in court – Orpo expressed confidence that the India deal would face no similar roadblocks from member nations.
“I conveyed greetings from last week’s European Council meeting, where everyone was unusually unanimous and satisfied that the trade agreement has been concluded,” Orpo explained.
The Finnish Prime Minister, who is also participating in India’s AI Summit during his visit, announced that Finland aims to double its trade volume with India by the early 2030s.
Regarding the ongoing conflict in Ukraine, Orpo said he urged Modi to support Finland and the EU’s stance and to maintain pressure on Russia for achieving peace. The two leaders did not discuss Russian oil exports to India during their talks.
“Modi strongly emphasised that he is working to find solutions to the crisis in Ukraine,” Orpo reported.
