Apr 11: The 2nd round of India-Luxembourg Foreign Office Consultations (FoC) was held on 09 April 2024 in New Delhi. It was co-chaired by Shri Pavan Kapoor, Secretary (West), Ministry of External Affairs, Government of India and Mr Jean Olinger, Secretary General, Ministry of Foreign and European Affairs, Defence, Development Cooperation and Foreign Trade of Luxembourg. The Consultations were institutionalized as an outcome of the bilateral Summit between the Prime Ministers of India and Luxembourg in November 2020.
During the FoC, the entire gamut of bilateral relations was discussed, including ways to further expand economic links and deepen cooperation in areas of finance, steel, space, ICT, innovation, start-ups, manufacturing, automotive, health, sustainable development, renewable energy, and the fight against climate change.
Both sides expressed happiness at the growing financial sector collaboration between the two countries. In this context, they welcomed the signing of the MoU between the International Financial Services Centres Authority (IFSCA) and the Commission de Surveillance du Secteur Financier (CSSF) and the commencement of discussion on the establishment of the India-Luxembourg Financial Corridor given further strengthening bilateral relations in the financial sector. Both sides noted with satisfaction that the manufacturing unit of Luxembourg-based B-Medical Systems set up in Mundra, Gujarat in 2021, commenced its operations in 2022. It is B-Medical’s first manufacturing unit outside Luxembourg. They also welcome the establishment and expansion of B-Medical Systems’ R&D divisions in India.
The two sides also discussed regional and multinational issues of mutual interest. They noted with satisfaction the growing cooperation to further strengthen India-EU bilateral cooperation, which has deepened and diversified over the years with a focus on key areas like digital and green transitions, emerging technologies, and economic security apart from our traditional areas of cooperation. They emphasized on early conclusion of a comprehensive, balanced and mutually beneficial India -EU FTA.
Both sides stressed the importance of strengthening cultural and people-to-people exchanges. In this context, they emphasized the need for an early conclusion of an India-Benelux Migration and Mobility Partnership Agreement.
The FoC were preceded by the 18th meeting of the Joint Economic Commission of India and BLEU (Belgium Luxembourg Economic Union) held on09 April 2024, co-chaired by the Secretary-General, Ministry of Foreign and European Affairs, Defence, Development Cooperation and Foreign Trade of Luxembourg, President of the Board of the Belgian Federal Public Service Foreign Affairs, Foreign Trade and Development Cooperation and Commerce Secretary, Government of India.
The talks were held in a friendly and cordial atmosphere. It was agreed to hold the next round of Consultations in Luxembourg at a mutually convenient date.
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