European Commission President Ursula von der Leyen on Tuesday said the European Union is close to finalising a Free Trade Agreement (FTA) with India, describing it as what some have called the “mother of all deals”.
Addressing the World Economic Forum (WEF) in Davos, von der Leyen underlined Europe’s commitment to expanding global trade and strengthening international cooperation.
Referring to the scale of the proposed agreement, she said there is still work to be done but the negotiations are nearing a decisive stage.
“There is still work to do. But we are on the cusp of a historic trade agreement. Some call it the mother of all deals. One that would create a market of two billion people, accounting for almost a quarter of global GDP,” von der Leyen said.
The European Commission President said she will travel to India next weekend to take forward work on the proposed trade agreement. She added that the visit will also focus on strengthening economic ties and deepening cooperation between Europe and India.
Placing the India agreement within Europe’s broader trade strategy, von der Leyen said the European Union remains open to partnerships across the world.
