Daily Current Affairs 2020 15th Summit between India and EU takes place in virtual format | Daily Current Affairs 2020

15th Summit between India and EU takes place in virtual format

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The 15th Summit between India and the European Union was held in virtual format today. India was represented by Prime Minister Narendra Modi. The EU was represented by Charles Michel, President of the European Council, and Ursula von der Leyen, President of the European Commission. 

A Joint Statement of the India-EU Summit said, the leaders decided to strengthen the India-EU Strategic Partnership, based on shared principles and values of democracy, freedom, rule of law, and respect for human rights, aiming at delivering concrete benefits for the people in India and the EU. 

As the world’s two largest democracies, India and the EU affirmed their determination to promote effective multilateralism and a rules-based multilateral order with the United Nations and the World Trade Organisation at its core. 

They will bolster their cooperation in international fora to reinforce international security, strengthen preparedness and response for global health emergencies, enhance global economic stability and inclusive growth, implement the Sustainable Development Goals and protect the climate and the environment. The Joint Statement said, the EU is looking forward to India’s G20 Presidency in 2022 and its membership in the UN Security Council in 2021-2022.

As the world is fighting the COVID-19 pandemic, the leaders agreed that global cooperation and solidarity are essential to protect lives and to mitigate the socio-economic consequences of the pandemic. The leaders emphasised the importance of strengthening preparedness and response capacities, of sharing information in a free, transparent and prompt manner, and of improving international response.

The leaders noted mutual synergies in the field of healthcare through shared capacities, experiences and strengths in the production of pharmaceuticals and vaccines, healthcare research and development, diagnostics and treatment. 

They discussed prospects for global collaboration and sustained funding for developing and deploying and accessibility of effective diagnostics, treatments and vaccines to make them available to all at an affordable price. They called for the future COVID-19 vaccine to become a global common good.

The leaders agreed to further develop their trade and investment relations to unleash their full potential particularly in the context of post-COVID-19 economic recovery and support sustainable growth and jobs on both sides. They reaffirmed their commitment to work towards balanced, ambitious and mutually-beneficial trade and investment agreements, opening markets and creating a level playing field on both sides. 

They also agreed to establish a regular High Level Dialogue at ministerial level to provide guidance to the bilateral trade and investment relations and to address multilateral issues of mutual interest. India and the EU agreed to keep the global trading system open, with the WTO as the bedrock of the rules-based multilateral trading system.

They welcomed the ongoing activity in India of the European Investment Bank and the upcoming planned investments of Euros 550 million in the Pune and Bhopal Metro Rail Projects.

The leaders adopted the “India-EU Strategic Partnership: A Roadmap to 2025” to guide cooperation between India and the EU over the next five years. They welcomed the signing of the India-EURATOM Agreement on research and development cooperation in the peaceful uses of nuclear energy. 

They also adopted a Joint Declaration on Resource Efficiency and Circular Economy and welcomed the upcoming renewal of the India-EU Science and Technology Agreement for another five years.

Source: News On Air

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