President Murmu’s visit to Romania strengthened trade relations… MEA called India-EU FTA and ‘3 T’ formula a game changer…

The official visit of President Draupadi Murmu to Romania from 23 to 25 July has given a new strength to the commercial relations between India and Romania. During this visit, both the countries have identified new areas of mutual cooperation and placed special emphasis on the transformative potential of the India-European Union (EU) Free Trade Agreement (FTA).

Sibi George, Secretary (West) in the Ministry of External Affairs (MEA) told a special media briefing that President Murmu held a bilateral meeting with Romanian Prime Minister Ilie Bolojan and jointly addressed the India-Romania Business Forum with President Nicosor Dan. The business forum was attended by a large delegation of around 200 Indian businesses led by FICCI, CII and ASSOCHAM, representing sectors such as AI, cyber security, defence, aerospace and pharmaceuticals. The main focus of the talks was to increase cooperation in ‘3 T’ (Trade, Technology, Tourism and Talent).

Romania is the gateway to the European market

MEA said that Romania, being a member of the European Union, provides an excellent opportunity for Indian companies to access domestic and larger European markets. Currently, around 1,000 Indian companies are present in Romania, which will further strengthen the economic partnership in the future.

In the conversation between President Murmu and Prime Minister Bolojan, the historic FTA signed this year and the ‘India-EU Towards 2030’ agenda were also discussed. The government aims to double bilateral trade in the next three years, for which strong policy frameworks have been prepared.