Sweden promises to push for an early FTA between India and the EU during our presidency

Johan Forssell, Sweden’s foreign trade minister, stated on Friday that one of Sweden’s top priorities during its year-long presidency of the European Union will be pushing for an early finalization of the India-EU free trade agreement.

He said Sweden will go about as an “legitimate agent” and give a valiant effort to finish up the discussions for the FTA as it will be to “everybody’s greatest advantage”.

The minister said that every nation must make their own decisions and that India’s purchase of crude oil from Russia during the conflict in Ukraine was part of domestic policies.

“I have not come here to instruct you on your actions. Europe has been impacted in numerous ways by the war, particularly in the energy situation. “I completely agree with Prime Minister [Narendra] Modi’s statement that this is not the time for war,” he stated while interacting with a group of journalists. “Every country must make their own decisions.

Because there are no losers in this war, we fervently hope that it will soon come to an end. Terrible circumstances prevail in Ukraine. He stated, “It is a disaster, a catastrophe, to have a war in the middle of Europe right now.”

When asked about the free trade agreement that India and the European Union want to have, Forssell said that Sweden would work hard to get the agreement done quickly while it is Sweden’s presidency of the EU.

At the same time, he acknowledged that the agreement’s completion faces some challenges. Forssell claimed that on Thursday, he discussed the issue of an FTA between India and the EU with Commerce Minister Piyush Goyal.

“We are looking for a deal that is good for everyone. “This is one of the areas where we could cooperate during the Swedish presidency (of the EU),” he stated. There must be discussions and flexibility.

He continued, “Sweden wants to be a part of the growth story that India has just begun.”

In June, India and the European Association restarted the talks for the long-forthcoming exchange and speculation understanding after a hole of more than eight years.

Additionally, it is based on trust. You can’t have things your way or mine. Forssell stated, “You need to listen to all sides, you need to see what the challenges are, and then have an open discussion about that.”

The minister said that the FTA talks might not be over in 2023.

“To be honest, I don’t think a deal of this kind could be finalized and signed while Sweden is in office. But we’ll try to move it along, maybe until the next president finishes,” he said.

After a number of talks that lasted six years, the ambitious free trade agreement was put on hold in 2013.

Jack Wilson

Jack Wilson is a former market analyst and consultant. In his 8-year career as an analyst, Clarence worked with top market players like Prodge LLS, Westat Inc and Precision Opinion Inc. He moved towards writing in the year 2014. In the past, he undertook several freelance projects to begin his writing profession. Jack completed his economics degree from Columbia University. He is also writing a book on Market analysis and performing sub-editorial duties.

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