Strengthening Ties: India and Netherlands Forge Economic Path with JTIC

India and the Netherlands have established the Joint Trade and Investment Committee (JTIC) to enhance bilateral economic cooperation. This initiative, backed by a signed MoU, focuses on addressing trade barriers, promoting investments, and ensuring annual meetings alternately in both countries to foster collaboration.

In a significant development, India and the Netherlands have established the Joint Trade and Investment Committee (JTIC) aimed at bolstering bilateral economic cooperation. This announcement was made by the commerce and industry ministry on Friday.

The creation of the JTIC followed the signing of a Memorandum of Understanding (MoU) between the two nations. This committee is envisioned to serve as a critical mechanism for reviewing bilateral trade relations, promoting mutual investments, and tackling any investment and trade barriers. It aims to explore and expand collaborations in sectors of shared interest.

According to the terms of the MoU, the JTIC is set to convene annually, with meetings alternating between India and the Netherlands to ensure sustained and meaningful engagement. The JTIC will be co-chaired by senior officials from both countries' commerce departments, and will include government officials and designated members from both sides. Its primary objective is to identify and remove trade and investment obstacles.

(With inputs from agencies.)