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Romania's FM: 'EU-India FTA talks uphold rules-based trade.

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Foreign Minister of Romania, Luminita Odobescu, recently engaged in a comprehensive dialogue with Shubhajit Roy, covering various facets of bilateral relations between Romania and India, along with pertinent global issues. At the heart of their conversation lies the significance of India as a pivotal partner for Romania, both economically and politically, within the South Asia region. Reflecting on the milestone of 75 years of diplomatic relations and 10 years of the Extensive Partnership, Minister Odobescu underscores the shared commitment to deepen cooperation between the two nations. This commitment is further evidenced by the recent adoption of a Celebratory Joint Declaration, highlighting key areas of collaboration such as energy, IT&C, and manufacturing.

Emphasizing the substantial progress in bilateral trade, Minister Odobescu notes India's position as Romania's second largest trading partner in the Asia-Pacific region, with bilateral exchanges reaching $1.6 billion for the first 11 months of 2023. Beyond the economic realm, India's role in the geopolitical landscape is deemed crucial by Romania, particularly in upholding the international order based on the rule of law. Together, the two nations are dedicated to defending this order, with a focus on cooperation within the Indo-Pacific region and beyond.

Regarding potential sectors for collaboration, Minister Odobescu identifies multiple investment opportunities for both countries. Indian companies are keenly interested in investing in Romania across various sectors including defense, industry, agriculture, and food and wine industries. Conversely, Romanian companies possess technical expertise and innovative capabilities that can contribute to development projects in India, spanning energy, infrastructure, defense, and more. Additionally, both nations aim to bolster economic cooperation in key sectors such as energy, IT&C, and manufacturing industry.

Furthermore, Minister Odobescu highlights the ongoing negotiations for a comprehensive EU-India trade agreement and investment protection agreement. These negotiations signify a significant step towards fostering increased trade and investment flows between the EU and India, promoting innovation, employment, and a level playing field for businesses from both regions. The Minister emphasizes that these negotiations send a crucial signal to the world in support of the rules-based trade system, underlining the importance of multilateral cooperation in addressing global challenges.

Shifting focus to the conflict in Europe, Minister Odobescu unequivocally condemns Russia's illegal and unprovoked war of aggression against Ukraine. She stresses the importance of Russia respecting Ukraine's sovereignty and territorial integrity for a peaceful resolution to the conflict. Additionally, Minister Odobescu discusses the imperative of expanding the role of women in leadership at the global level. She underscores the need for women's empowerment, dismantling gender stereotypes, and promoting inclusive foreign policy as essential steps towards achieving gender equality in leadership roles worldwide.

In essence, Minister Odobescu's dialogue with Shubhajit Roy sheds light on the multifaceted nature of Romania-India relations and underscores the shared commitment to deepen cooperation across various sectors. Moreover, her insights into global challenges such as the conflict in Europe and the role of women in leadership underscore Romania's proactive stance on pressing global issues. Through dialogue and cooperation, Romania and India aim to foster mutual prosperity and contribute to a more stable and inclusive international order.

Feb. 27, 2024 4:44 p.m. 3605

#RomaniaIndiaRelations #GlobalCooperation #Multilateralism #EUIndiaTrade #RuleOfLaw #IndoPacificCooperation #GenderEquality #PeaceAndSecurity #DiplomaticMilestones #BilateralTrade #breakingnews #worldnews #headlines #topstories #globalUpdate #dxbnewsnetwork #dxbnews #dxbdnn #dxbnewsnetworkdnn

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