New Delhi: The proposed Free Trade Agreement (FTA) between India and the European Union (EU) is expected to be signed by the end of this year. The agreement is expected to enter into force next year after the approval and ratification process is completed by both sides. Finland’s Ambassador to India Mikko Kivikowski gave this information on Monday.
Speaking to IANS in the capital, Kivikowski said that talks between India and the EU are progressing well and both sides are optimistic about finalising the agreement before the end of the year.
He said that after the signing of the agreement, the process of its ratification in the Government of India and the European Union will have to be completed. It may take a few months and the agreement is expected to come into force next year.
Referring to the India-EU Comprehensive Strategic Partnership, the Finnish Ambassador said that defence and security cooperation has gained greater importance after the India-EU summit held earlier this year.
He said that Finland, as a member of the European Union, is keen to enhance cooperation with India in the field of defence and security. He also mentioned the ongoing cooperation with Finnish companies in this field.
According to Kivikoski, the Finnish company Nokia and the satellite company ICEYE have recently announced cooperation in the field of sovereign dual-use satellite communication systems. Such systems can be owned and operated by the respective countries.
The ambassador also emphasized the possibilities of cooperation between India and Finland in areas such as artificial intelligence (AI), defence, education, and innovation.
He said that Finland may be small in size, but its potential in terms of innovation and solutions is huge. At the same time, India has a large market, scale and talent. Major results can be achieved by combining the capabilities of the two countries.
[DD News]