Key Points
India-EU FTA aims to conclude by year-end
Modi and von der Leyen push for balanced trade deal
UIA emphasizes rule of law and legal independence
Bilateralism gains momentum over multilateral trade
Speaking at a seminar in the national capital, Mastellone said there is a very large domestic market in India and the time is now ripe to change the approach 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 agreed to expedite the conclusion of the India-EU FTA by the end of the year and hold further focused discussions on the defence industry and policy to explore opportunities from new initiatives and programmes.
The leaders committed to task their respective negotiating teams to pursue negotiations for a balanced, ambitious, and mutually beneficial FTA with the aim of concluding them within the course of the year. Officials were asked to work as trusted partners to enhance market access and remove 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 multi-cultural organisation for the legal profession, established in 1927 and now with members in 110 countries.
