Goyal Discusses Economic Ties with EU Leaders

India-EU Free Trade Agreement Progress Reviewed at WTO MC14 Meeting​

Piyush Goyal Meets EU Trade Commissioner Maros Sefcovic​

At the 14th Ministerial Conference (MC14) of the World Trade Organization (WTO) held in Cameroon, Commerce and Industry Minister Piyush Goyal met with Maros Sefcovic, the European Commissioner for Trade and Economic Security, to review progress on the India-European Union Free Trade Agreement (FTA).

The leaders discussed key priorities under the WTO MC14 agenda and assessed ongoing negotiations toward finalizing the India-EU FTA. The agreement was earlier announced by Narendra Modi and Ursula von der Leyen in New Delhi in January 2026.

Focus on Strengthening India-EU Trade Relations​

During the meeting, both sides explored opportunities to deepen bilateral economic and trade ties. The India-EU FTA is expected to significantly boost trade volumes, enhance market access, and strengthen strategic economic cooperation between the two regions.

Bilateral Meetings with Nigeria and Brazil​

On the sidelines of the WTO conference, Goyal also held key bilateral discussions with global counterparts:

• Met with Jumoke Oduwole, Nigeria’s Minister of Industry, Trade, and Investment, to explore avenues for expanding trade and economic cooperation.
• Engaged in talks with Mauro Vieira, Brazil’s Minister of Foreign Affairs, focusing on strengthening bilateral trade and expanding the India-MERCOSUR Preferential Trade Agreement (PTA).

India Takes Stand on Investment Facilitation for Development (IFD) Agreement​

At the WTO MC14, India took a firm and independent stance on the contentious Investment Facilitation for Development (IFD) Agreement. Drawing inspiration from Mahatma Gandhi’s philosophy, India chose not to support incorporating the IFD Agreement into the WTO framework as an Annex 4 Agreement.

According to Goyal, such inclusion could undermine the WTO’s foundational principles and disrupt its institutional balance.

WTO Reform and Plurilateral Agreements Discussion​

WTO members are currently deliberating on establishing safeguards and legal frameworks for plurilateral agreements before integrating them into the global trade system. India emphasized the need for careful consideration of systemic issues while remaining open to constructive engagement under the WTO reform agenda.

Engagement with Indian Diaspora in Cameroon​

During his visit, Piyush Goyal also interacted with the Indian community in Cameroon, highlighting their role in strengthening cultural and economic ties between nations.

He acknowledged the diaspora as a crucial bridge fostering goodwill and enhancing bilateral relations, while emphasizing the vast potential for future collaboration.

Conclusion: India Strengthens Global Trade Partnerships​

India’s participation at WTO MC14 underscores its proactive role in shaping global trade policies, advancing key agreements like the India-EU FTA, and reinforcing strategic partnerships with countries across regions.