The EU-India Free Trade Agreement is poised to redefine global commerce, according to Lithuania’s Ambassador Dana Mikneviciene, who christened it the ‘mother of all agreements’ for its historic and game-changing attributes. In candid remarks, she unpacked its vast dimensions, ambitious goals, and critical role in international relations.
This landmark accord transcends typical tariffs, forging bonds between colossal trade entities and steadfast democracies. In uncertain times, it serves as an exemplary framework for democratic trade partnerships.
Central to its appeal are the colossal opportunities for enterprises, unlocking doors to expansive markets and resilient chains. India’s supply chain prominence will soar with EU linkages, a linchpin of world trade.
Reflecting on progress, the ambassador lauded India’s trade maturation and foresaw luminous horizons for EU-India ties. For Lithuania, EU membership fueled growth; India offers the next leap. With trade at a modest 400 million euros, potential abounds in tariff-lightened fields.
Local authorities will guide firms toward benefits like reduced levies, agile bureaucracy, and superior penetration. High living standards—around 30,000 euros per head—make Lithuanians ideal for Indian exports.
Navigating US-led trade storms, this FTA promises steadfast collaboration. Political momentum ensures feasibility, while joint technical ventures in tariffs and structures will optimize flows, ushering enduring economic vitality.