How Are India and the Netherlands Strengthening Economic Ties?

New Delhi, April 29 (NationPress) India and the Netherlands have come to an agreement to bolster their bilateral trade and economic collaboration during high-level talks led by Commerce Secretary Sunil Barthwal on his recent trip to the European nation, as stated in an official announcement made on Tuesday.

This visit, which took place from April 24-26, highlighted India's dedication to enhancing its economic ties with the Netherlands, a significant European ally.

Discussions at both the Ministry of Foreign Affairs and the Ministry of Economic Affairs established a foundation for deeper cooperation. The CEOs Roundtable facilitated new business relationships, with Dutch enterprises showing a strong interest in India's expanding market and investment prospects, according to the statement.

Meetings during the visit to the Port of Rotterdam and ASML unveiled new avenues for collaboration in maritime infrastructure and semiconductor development, which align with India's economic priorities.

Barthwal's trip began with a fruitful dialogue with Michiel Sweers, Director General for Foreign Economic Relations at the Dutch Ministry of Foreign Affairs, in The Hague. The discussions were aimed at fortifying bilateral trade and economic relationships, particularly through the establishment of the Joint Trade and Investment Committee (JTIC).

Moreover, the meeting encompassed a range of topics concerning bilateral trade and economic partnerships, progressing strategic cooperation, promoting policy alignment, and tackling trade barriers to enable smoother market access for businesses from both nations.

A standout moment from the visit was the CEOs Roundtable Conference organized by the Embassy of India. Approximately 40 representatives from prominent Dutch and Indian companies, as well as business chambers and trade organizations, participated, discussing trade prospects, challenges, and actionable solutions.

The Roundtable also highlighted the One District One Product (ODOP) initiative, showcasing India's rich artisanal heritage through handicrafts presented by the Embassy.

Barthwal's visit to the Port of Rotterdam, recognized as Europe’s largest and one of the globe's most advanced ports, was received by Boudewijn Siemons, CEO of the Port of Rotterdam Authority, at the World Port Centre.

During this time, the Commerce Secretary engaged in comprehensive discussions on improving cooperation between Indian ports and Rotterdam. The dialogue focused on opportunities for knowledge exchange, technological transfer, and sustainable port management practices. A tour of port facilities, including the fully automated APM Terminals at Maasvlakte II, offered insights into Rotterdam’s advanced infrastructure and operational efficiencies.

He emphasized the potential for collaboration in modernizing Indian ports, consistent with India’s Maritime Vision 2030, which aims to enhance port capacity and logistics efficiency.

The visit also set the stage for a Green and Digital Corridor between the Port of Rotterdam and Indian ports like the Deendayal Port Authority Kandla, facilitating the export of Green Hydrogen and carriers such as Ammonia and Methanol from India to Europe, with the Port of Rotterdam serving as the gateway to Europe.

Following this, Barthwal visited Veldhoven to tour the headquarters of ASML, a global leader in photolithography systems for the semiconductor industry. In a constructive meeting with ASML CEO Christophe Fouquet, the Commerce Secretary discussed ways to deepen India-Netherlands cooperation in the semiconductor sector, focusing on utilizing ASML's expertise to support India’s aspirations to become a global semiconductor manufacturing hub, as outlined in the India Semiconductor Mission.

Additionally, during his visit to the Republic of Croatia from April 22-23, Barthwal engaged in bilateral talks with Zdenko Lucic, State Secretary for Foreign Trade and Development at the Ministry of Foreign and European Affairs, and Ivo Milatic, State Secretary at the Ministry of Economy. These discussions aimed to advance India-Croatia trade and investment relations, promote sectoral collaboration, and strengthen India’s involvement in the Central European region.

In talks with Zdenko Lucic, the focus was on progressing the EU-India Free Trade Agreement (FTA) and enhancing bilateral trade cooperation. The Commerce Secretary highlighted potential collaboration areas, including Railways, Global Capability Centres, Electric Vehicles, and IT.

The Croatian delegation expressed interest in investments in the Defence sector, solar cell production, food processing technology, automobiles, and knowledge sharing, among other sectors, as per the official statement.