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This is an archive article published on March 31, 2022

Will support, facilitate India-EU FTA, situation to be win-win for all: Netherlands Foreign Minister Wopke Hoekstra

'Our business relationship is of tremendous importance, but I think a broader EU-India FTA would also provide more opportunities for India towards the whole European continent.'

free trade agreement (FTA), India-EU free trade agreement, Netherlands, Wopke Hoekstra, Business news, Indian express business news, Indian express, Indian express news, Current AffairsWopke Hoekstra

The Netherlands intends to support a free trade agreement (FTA) between India and the European Union, the Netherlands Foreign Minister Wopke Hoekstra said. In an interaction with Aanchal Magazine, Hoekstra said a “broader EU-India FTA would provide more opportunities for India towards the whole European continent … the Dutch government could do, in facilitating that.” Edited excerpts:

The Netherlands is the fifth largest foreign investor in India. What are your thoughts on having a bilateral investment protection agreement with India? Is there any timeline for a new agreement?

These things sometimes take longer, even if everyone is working very diligently on it. I have been a Minister of Finance for four years and, therefore, I know from experience that any type of treaty even amongst the closest of friends sometimes does take quite a while to get to change and improve. What I would very much hope —and in which I would personally really want to invest and that the same is true for the whole Cabinet here — is to make sure that we create these types of arrangements with India. And, of course, some things you organise nationally, but a topic you touch upon, is also something that I would very much like to do with the European Union, presuming that would be interesting for India as well. An EU Free Trade Agreement is something we would clearly support. We are very, very impressed by the capabilities India has in terms of trade. I think there are many things that we share. There are many things that have provided tickets to work on an even better future. I have been to India also as a private citizen and I have many friends from India, from the time I spent at INSEAD … I was truly impressed by the business sense and the knack for trade opportunities that are sensed both in India and also among my Indian friends … the trades, and a knack for doing business is clearly something that also unites the Netherlands and India. There is a lot that we could do together in that realm and I am very much looking forward to that.

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How do you expect the India-EU FTA to affect the relationship between India and the Netherlands?

We would very much support a free trade agreement between the EU and India because our assessment is that it would give an additional impulse to our already excellent bilateral relationship. Our business relationship is of tremendous importance, but I think a broader EU-India FTA would also provide more opportunities for India towards the whole European continent. And if there’s anything that I could do, that the Dutch government could do, in facilitating that, and helping all that, we would, of course, be delighted to do so. These things, in my view, are truly win-win. It is increasing the size of the pie, making sure that both nations benefit and, in this case, if we would come to any agreement with you, that would also mean the 27-plus. Of course, India will benefit and it will be for the better of our two nations, of all the nations involved and it will be better for all the citizens involved. Of course, that is what we should always have in mind, how do we make sure we create more prosperity, more stability and a brighter future for the next generation?

India has reservations on opening up the dairy sector, which is the top export sector for the Netherlands. How do you see it getting resolved?

Dairy is an area in which we have a long-standing tradition, we have a lot of expertise. We are humbled that many countries across the world in Africa and Asia make use of the export of our dairy products, be it milk or cheese or all sorts of things that are related to dairy. If in that specific area, we could increase our collaboration, then I will be delighted to do so. There is a great opportunity that dairy is, as many of us know, is vital for the young ones and also for toddlers, youngsters, people of our age, but also the elderly. So, if there is an opportunity, then let’s seek to make the most of it.

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India has a long relationship with the Netherlands, which is 75 years old now. But now there’s a crisis also in this region, with India abstaining from voting against Russia at the UN. Because of this, does the relationship get affected in any manner? How does the Netherlands view its relation with India?

To us, the relationship with India is of vital importance. India is truly one of the geopolitical powers in the world. We’re looking in all, not only at the size of India, but also of the dynamism that we see, the broad outreach that we see towards the world, in your own region, but also at large. And again, we are truly very impressed also by the business sense, and all the developments that we’ve seen in the last couple of decades, it’s truly very impressive. So, to the Netherlands, and also to the EU, the relationship is of vital importance.

Secondly, to me, it is crystal clear that if you look at all the assets that India has, and what it is providing to the world, it is clearly one of the nations, playing a very, very important role at the world stage. And what we would, of course, hope is that India would also want to engage on topics that are clearly front and centre in the newspapers, given the current crisis. I have an excellent relationship and a great dialogue with Foreign Minister S Jaishankar. And what we, of course, hope, generally speaking, is that all the peace-loving nations — all the nations that are fighting for stability, peace, democracy, prosperity like India, like the Netherlands, and like so many others, that we also make clear to everyone that this is not only important in Ukraine, this is not only important in the regions bordering Ukraine, but this is vital interest for the future of the world. And that is something that I underline in all my bilateral contacts. And I’m also very much looking forward to continuing this important and, by the way, extremely fruitful dialogue with India.

The Indian President is coming to visit this country. What can we expect from this visit?

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For me, what is the most important thing: it is testimony to our friendship and partnership. And to articulates once again, for us but hopefully also for our friends in India, how tremendously important the relationship is from an economic perspective, a geopolitical perspective, a perspective of countries that are like-minded in their desire to make sure that democracies prosper. We are only a tiny little democracy compared to India, but it is something that we clearly share. And we also clearly share a desire to make the world a better and more stable place. And for us, this is not only a testimony, but it is also a signal to our friendship and a clear investment that the both countries intend to make in making a great friendship and a great relationship even better. And some things might actually materialise during the state visit. But these things in my opinion — in my experience — are always catalysts for more to come. It is almost like pushing a fast forward button on economic topics, diplomatic topics, tax treaties, many of these things. It basically means it’s a signal to all our staff and nation, our business community that we are dead serious about this, that we want to make the most of it. And that is also why I’m so delighted that we have the two heads of state being together and making sure we make the most of the whole programme.

(The correspondent was in The Hague on the invitation of the Netherlands government)

Aanchal Magazine is Senior Assistant Editor with The Indian Express and reports on the macro economy and fiscal policy, with a special focus on economic science, labour trends, taxation and revenue metrics. With over 13 years of newsroom experience, she has also reported in detail on macroeconomic data such as trends and policy actions related to inflation, GDP growth and fiscal arithmetic. Interested in the history of her homeland, Kashmir, she likes to read about its culture and tradition in her spare time, along with trying to map the journeys of displacement from there.   ... Read More

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