Norway Backs India-EU Trade Pact as Global Trade Beacon

Norway's Ambassador to India, May-Elin Stener, hailed the India-European Union Free Trade Agreement as a landmark development. While Norway is not an EU member, it sees the agreement as beneficial for global trade. The pact complements the existing India-EFTA agreement, promoting trade flow and economic partnerships.

In a significant endorsement, Norway's Ambassador to India, May-Elin Stener, has described the India-European Union Free Trade Agreement (FTA) as a 'very good development,' highlighting its potential to boost global trade. Although Norway is not a European Union member, Ambassador Stener emphasized the country's strong support for a rules-based international trade order, noting that the agreement complements the existing Trade and Economic Partnership Agreement (TEPA) between India and the European Free Trade Association (EFTA), which includes Norway.

The European Union, being Norway's largest trading partner, strengthens the potential benefits of closer economic ties between India and the EU. Ambassador Stener shared that such partnerships can mitigate rising global trade tensions by establishing more diversified and robust economic linkages. 'Europe is now clearly saying that India is important for us,' she remarked, expressing optimism about India's role as a key long-term partner for the EU and EFTA countries.

Ambassador Stener also addressed various other international topics, including the role of the Nobel Committee in Norway and the country's stance on Arctic security. She reaffirmed that India's economic relationship with Norway continues to thrive, underscored by growing interest from Norwegian companies in sectors such as renewable energy and digital technologies. Anticipated high-level visits and summits, such as the AI Impact Summit and the India-Nordic Summit, highlight the strengthening bilateral ties.

(With inputs from agencies.)