New Delhi, Jan 24 (NationPress) Reuben Gauci, the High Commissioner of Malta to India, expressed a positive outlook regarding the anticipated signing of the EU-India Free Trade Agreement (FTA) during an interview on Saturday. He emphasized that the forthcoming visit of European Union leaders signifies that New Delhi is a top priority for the EU.

European Commission President Ursula von der Leyen and European Council chief Antonio Costa are set to arrive in India for the Republic Day celebrations and the EU-India Summit.

Prior to their visit, Gauci described the potential signing of the EU-India FTA as historical and the mother of all deals in an exclusive interview with IANS. He recalled the significant delegation-level meeting led by the European Commission chief in February last year, which he noted had greatly advanced the negotiations surrounding the EU–India FTA.

With the Presidents visiting India, it emphasizes that India is a top priority for the EU. Following a meeting with External Affairs Minister S. Jaishankar earlier this week, it is evident that the EU is also a considerable focus on India’s agenda, he stated. Gauci added, “Once signed, the FTA will make history.”

The High Commissioner also pointed out that Malta, being one of the smallest member states of the EU, views the FTA as an opportunity to boost and expand trade with India.

“Currently, Malta imports from India 10 times more than it exports to India. While this is understandable given Malta's size, we aim to rectify our trade deficit. Achieving parity is possible through the EU-India Free Trade Agreement,” Gauci remarked.

The EU holds exclusive authority over common commercial policies, meaning that only EU institutions can negotiate and finalize trade agreements with countries outside the EU.

Referring to this authority, the Maltese High Commissioner stated, “When we entrusted this role to the EU, we have to rely on them regarding these matters. We have been closely monitoring the negotiations for the EU-India Free Trade Agreement since their inception. I am hopeful for a swift signing, perhaps next week during the Presidents’ visit.”

Discussing the potential benefits of the EU–India FTA for Malta and other member states, Gauci noted, “Negotiations are intricate, as they involve two major entities, the EU and India, hence the term 'Mother of all deals'.”

He further elaborated that the negotiations are complex due to their connection to various economic activities and investments. He acknowledged that for India, EU investment is crucial as it generates jobs, particularly given that India possesses the largest population globally.

Gauci highlighted that the advantages of this agreement will vary for each EU member state, saying, “The FTA will also provide us a platform for improved trade with India across all sectors—something that is beneficial for all of us, regardless of size.”

He expressed hope that future trade and investment deficits would be eliminated, revealing that currently, 114 Indian companies operate in Malta, while Maltese investments in India are minimal. “I hope that this FTA will encourage greater investment in India,” he concluded.

Gauci emphasized the necessity of the FTA between India and the EU in light of recent US tariff increases.

“The urgency to finalize the Free Trade Agreement between India and the EU has intensified. Tariffs, like many other factors, must be managed; they have always existed. Having predictable tariff rates is vital, and platforms like this FTA will ideally lead to reduced or eliminated tariffs, providing stability in these unpredictable times,” he said.

Praising Prime Minister Narendra Modi’s leadership, the Maltese High Commissioner remarked that the signing of the FTA would be another achievement for him.

“Upon my arrival in India over five years ago, PM Modi was already in office. I have always been deeply impressed by his leadership style. He exudes a calm and composed demeanor; a leader who is confident in his actions for the betterment of his country,”

he noted.

“Leading such a large nation with the largest population globally is undoubtedly challenging. If this agreement is finalized, it will indeed be another feather in his cap,” concluded Gauci.