New Delhi: The bilateral free trade agreement (FTA) between India and the European Union will enhance market access and remove trade barriers for both nations in the new geopolitical world, Carlo Mastellone, UIA President, Studio Legale Mastellone in Florence, Italy, said on Saturday.
Addressing a seminar in the national capital, Carlo Mastellone emphasised India's vast domestic market potential, highlighting the need for a strategic shift from multilateralism to bilateralism.
“From the perspective of the European Union, which is where I come from, we are looking at one of the bilateral free trade agreements (FTAs). From the European point of view, that will be accomplished in this new geopolitical and geographical situation,” Mastellone told the gathering.
In February this year, Prime Minister Narendra Modi and European Commission President Ursula von der Leyen made a commitment to strengthen India-EU relations. They agreed to accelerate the completion of the India-EU Free Trade Agreement (FTA) by the end of 2025 and to engage in more in-depth discussions on the defence industry and policy to explore opportunities from new initiatives and programmes.
The leaders committed to the task instructed their negotiating teams to work towards a comprehensive, balanced, and mutually beneficial India-EU Free Trade Agreement (FTA). The goal is to finalise the agreement by the end of the year, with a focus on strengthening market access and eliminating trade barriers.
The two leaders welcomed the progress made by the second ministerial meeting of the India-EU Trade and Technology Council (TTC) that took place during the visit in fostering deeper collaboration and strategic coordination at the intersection of trade, trusted technology, and green transition.
At the seminar, Mastellone also stated that the mission of the UIA is building bridges and networking between lawyers from different systems and cultures “for the benefits of lawyers globally”.
“The opportunity is to stand up together for the rule of law, for human rights and for the protection of lawyers who are under threat of being persecuted by governments or other authorities,” he said, adding that we also need to stand up for the independence of the legal profession, something that “India is absolutely quite clear about” while facing the “challenge of fulfilling a responsible role towards world peace”.
UIA is the global and multicultural organisation for the legal profession, established in 1927 and now with members in 110 countries.
(inputs from IANS)