Dutch Ambassador to India Marisa Gerards has stated that trade and investment form a crucial pillar of the newly declared strategic partnership between the Netherlands and India. Speaking on the sidelines of the United Breweries Limited Socio-Economic Impact Study FY 2024-25 event in New Delhi on Tuesday, Gerards highlighted the growing momentum in bilateral relations following Prime Minister Narendra Modi's visit to the Netherlands from May 15-17.
Strategic Partnership Declaration
Referring to the visit, Gerards said, "We had the visit of Prime Minister Modi to the Netherlands, and we have declared a strategic partnership between our two countries and trade and investment is a very important part of that strategic partnership." The envoy emphasized that the proposed India-European Union Free Trade Agreement (FTA) would further strengthen economic cooperation between the two sides.
"With the FTA between the EU and India, it will be a great help as well to have a booming economy. We are looking forward; we have many different sectors where we do business... So this is all very, very important for us over the coming five years," she said.
Critical Minerals Cooperation
Highlighting cooperation in critical minerals, the Ambassador said India and the Netherlands had signed a Memorandum of Understanding (MoU) to strengthen collaboration in this strategically important sector. "We signed an MOU between our two countries on this very important issue of critical minerals, and we will try to see how we can work much closer together because this is of critical and strategic importance for both our countries," Gerards noted.
Emphasizing the need for resilient supply chains and economic diversification, she added, "After all, we have to diversify our economies, and I think this trusted partnership will help us there."
Semiconductors and Technology Partnership
Prime Minister Narendra Modi's visit to the Netherlands infused deeper collaboration in the fields of semiconductors and critical minerals value chains with the signing of MoUs in these fields. The Joint Statement issued on May 16 during the visit highlighted the signing of the MoU on a Partnership on Semiconductors and Related Emerging Technology, which provides the framework for intensified cooperation in semiconductors, including in the areas of investment, research and talent exchange.
India-EU FTA Boost
Earlier on May 16, Prime Minister Modi, during his visit to the Netherlands, described the country as a "natural gateway" for Indian businesses entering Europe, saying the historic India-European Union trade agreement would further strengthen ties between the two countries.
Recognizing the strategic importance of critical minerals for continued innovation, and the need for global cooperation to build resilient and sustainable supply chains, the two leaders expressed their mutual interest in strengthening cooperation across the critical minerals value chain, including exploration, research and innovation, integration of value chains, supply chain resilience, circularity and ESG standards and related assessments. In this context, the leaders welcomed the signing of a Memorandum of Understanding on Critical Minerals.
The Netherlands expects the strategic partnership to deepen cooperation in trade, investment and critical minerals, with the proposed India-EU FTA expected to further strengthen economic ties over the coming five years.
