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Context:
Antonio Tajani, Italy’s Deputy Prime Minister and Foreign Minister, condemned trade wars, calling them detrimental to global commerce. He welcomed President Trump’s 90-day pause on tariffs, urging for constructive dialogue between the U.S. and the EU. Emphasized the need for transatlantic unity despite disagreements, such as those over Greenland or tariffs.
India-EU Bilateral Trade and Investment Agreement (BTIA)
- Tajani expressed optimism about finalizing the long-pending EU-India BTIA by the end of the year.
- Acknowledged historical delays but noted strong political momentum and trust built through recent high-level engagements, including EU Commission President Ursula von der Leyen’s visit.
- On market access concerns (like wine, spirits, agriculture), Tajani said every deal is unique, implying the EU is not seeking parity with India-U.S. terms, but rather a mutually beneficial agreement.
Growing India-Italy Bilateral Trade
- At a business summit in New Delhi, Tajani, along with S. Jaishankar and Piyush Goyal, discussed expanding current bilateral trade (valued at $14 billion).
- Italy is keen on enhancing cooperation in sectors such as manufacturing, digital infrastructure, and green innovation.
IMEC (India-Middle East-Europe Corridor) and Peace in West Asia
- Tajani admitted that IMEC’s potential is hindered by instability among Israel, Saudi Arabia, the UAE, and Jordan.
- However, he positioned the IMEC project as a driver of regional peace and connectivity.
- Italy is offering Trieste Port as a central hub in the corridor — part of the broader “Cotton Road” vision to boost Europe-Asia-Middle East trade routes.
Infrastructure, Investment, and the Global Gateway
- Tajani announced the appointment of a Special Envoy to develop port, rail, and digital infrastructure under the EU’s Global Gateway initiative.
- A Ministerial meeting is being planned in Italy with all IMEC participants to foster cooperation and progress on corridor goals.
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