New Delhi, 05 October (H.S.): Negotiations on the proposed Free Trade Agreement (FTA) between India and the European Union (EU) are progressing in a positive direction, with expectations that the remaining technical and regulatory issues will be resolved soon. Finland's newly appointed Ambassador to India, Mikko Kivikoski, said the agreement would come into effect after the necessary legal review and approval by the parliaments of both sides. He expressed hope that the agreement would be concluded by the end of this year.

The FTA would create a major common market for nearly two billion people in India and Europe and strengthen economic and strategic ties between the two sides amid global uncertainty, he said.

Speaking at his first formal press conference at the Embassy of Finland in Chanakyapuri on Monday, Kivikoski said that, alongside the FTA, negotiations were also underway on an Investment Protection Agreement (IPA) and issues relating to Geographical Indications (GI) between India and the EU. These agreements are expected to create a more secure and transparent environment for trade and investment.

Amid continuing changes in global supply chains, India and the EU view each other as reliable economic partners. Once the FTA comes into force, it is expected to create new economic opportunities for around 1.5 billion people in India and more than 500 million people across the EU's 27 member states.

Referring to India-Finland economic relations, Kivikoski said bilateral trade in goods and services currently stands at around USD 3 billion. The two countries have set a target of doubling this figure by 2030. However, he said Prime Minister Narendra Modi, during high-level discussions with Finland's leadership, had emphasised the need to set a more ambitious target that goes beyond simply doubling trade.

Amid the positive environment surrounding the FTA, new and medium-sized Finnish companies are exploring opportunities to invest, manufacture and establish partnerships in the Indian market. Indian companies, too, are showing interest in expanding their presence in Finland and the Nordic region.

Referring to recent high-level contacts in India-Finland relations, the ambassador said that he had presented his credentials to President Droupadi Murmu on September 25 and had been carrying out his diplomatic responsibilities in India for around three months.

He referred to the visits of India's External Affairs Minister and Commerce Minister to Finland, as well as the World Circular Economy Forum held in Gandhinagar. These engagements, he said, have accelerated cooperation between the two countries in areas such as sustainability, green energy, the circular economy and digitalisation.

On defence and security cooperation, Kivikoski said that the two countries were advancing their partnership on the basis of the bilateral defence cooperation agreement signed in 2020. Given the prevailing geopolitical circumstances, Finland's technological capabilities could be useful to India, he said.

Referring to technologies developed by Nokia and the space technology company ICEYE, he said satellite-based communication and surveillance systems could be useful for defence, border security, emergency communications and disaster management. Finland wants to further advance technology-based co-development and security cooperation with India, he said.

On the Russia-Ukraine conflict and Finland's decision to join NATO, Kivikoski said that before the outbreak of the war, around 70 per cent of people in Finland had been opposed to NATO membership. Following Russia's invasion of Ukraine in February 2022, public opinion changed dramatically within just three days, with support for NATO membership rising to between 75 and more than 80 per cent.

He said Finland's trust in Russia had completely disappeared following the war, and the country had ended its dependence on Russia in various areas, including energy, gas and trade. He said every sovereign country has the right to take independent decisions in the interests of its security and citizens.

Appreciating India's role in efforts to resolve global conflicts, the Finnish ambassador said India is the world's largest democracy, the most populous country and an important voice of the Global South. India's role is important in ending ongoing conflicts in regions such as Ukraine, West Asia and Sudan and in promoting peace and stability, he said.

He supported reform of the United Nations Security Council and advocated India's inclusion as a permanent member.

On technological cooperation, the ambassador said India and Finland are collaborating in areas including 5G, 6G, quantum computing, artificial intelligence and cybersecurity. Finnish technology has played an important role in India's telecommunications infrastructure, and the two countries are also working on the development of secure digital infrastructure.

He said technological cooperation could be expanded further in the future.

Kivikoski also highlighted the contribution of the Indian community in Finland. He said more than 30,000 Indian citizens currently live in Finland, including around 2,000 to 3,000 students. A large number of skilled Indian professionals are working in sectors such as information technology, software and engineering.

He said Finland is ready to welcome more skilled engineers, researchers and technology professionals from India.

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Hindusthan Samachar / Jun Sarkar