Taos: The World Economic Forum is being held in Davos, Switzerland. International political leaders, economists, thinkers and celebrities are participating and discussing in this conference. German Prime Minister Olaf Scholes attended the conference last Wednesday and spoke. At that time, he said, “I am making serious efforts to conclude a free trade agreement with India.”
Last year, Germany started talks on a free trade agreement with India. Also, the investment led to dialogue on security and geocoding. In this case, Germany has actively embarked on the process of securing a free trade agreement.
Regarding this, German Prime Minister Olaf Scholes said, “I am taking all possible measures to conclude a free trade agreement with India and Indonesia, followed by Canada, Korea, Japan, New Zealand, and Chile.”
Free trade means free trade between two countries by removing restrictions on export and import. Currently, the European Union is creating opportunities for small companies to increase their exports through these free trade agreements.
This year’s conference focuses on climate change. Regarding the measures taken by the European Union to control climate change, he said, “Germany and other European countries are actively moving towards alternative energy. The Russia-Ukraine war has intensified this trend,” he said.
The European Union is India’s third largest trading partner. In 2021, India’s trade with the European Union is estimated at 88 billion Euros (Rs 7.74 lakh crore). This is 11 percent of India’s total international trade. Likewise, India is the 10th largest trading partner of the European Union.