They also exchanged views on regional and global issues of mutual interest and reaffirmed their commitment to further deepen the close and multifaceted India-Belgium partnership.
Both sides agreed to double the bilateral trade in next five years, establish a business forum, an investment forum and a consular dialogue. Both leaders witnessed the exchange of MoUs in the field of defence, renewable energy, combating crime and establishing diplomatic training between two countries.
“Today, the scope of our cooperation with Belgium has expanded beyond traditional sectors to strategic areas such as defence and clean energy. We are working together on advanced defence equipment, such as the Zorawar tank. In Kakinada, Andhra Pradesh, we are developing one of the world’s largest green ammonia projects,” Modi said in his Joint Press Statement.
“Today, the world is going through a period of great upheaval. Conflicts continue to persist in many parts of the world. Whether it is food, fuel, or supply chains, every sector is being impacted by uncertainty. In this challenging environment, India’s economy has maintained its momentum. We recorded 7.8 per cent growth in the last quarter. Today, India’s growth story is becoming a source of confidence and new opportunities for the world,” he said.
Defence and security cooperation is a key pillar of our relationship. Today, we agreed to enhance military exchanges and training cooperation between the two countries, Modi said.
The agreements between our governments and defence industries will open up new opportunities for defence co-development and co-production. We will also further strengthen intelligence sharing and cooperation between our agencies in combating crime, he said.
“A clean energy future and reliable supply chains are our shared priorities. The MOU on Renewable Energy signed today will give new momentum to our sustainability cooperation. In critical minerals, we have decided to enhance cooperation in processing and recycling,” Modi said.
Belgium’s expertise in semiconductors and India’s scale are complementary to each other. In this direction, we will work together to connect Belgium’s IMEC Institute with India’s semiconductor ecosystem, he said.
“Today, we agreed to strengthen connections between our start-ups and enhance capacity building in the maritime sector,” Modi said.
We will also strengthen university and research cooperation. And, to facilitate talent mobility, we will soon conclude a “Migration and Mobility Partnership Agreement”, he said.
Diamonds have long been a link between India and Belgium. Today, we are transforming this historic connection into a new and more comprehensive relationship, Modi said.
The two leaders called for the conclusion of the negotiations on the EU-India Investment Protection Agreement and the Agreement on Geographical Indications at the earliest opportunity, with a view to further strengthening economic ties between India and the European Union.
Hailing the India-EU Free Trade Agreement as a historic milestone in the strategic partnership, the Leaders called for its timely implementation for realising the true potential for trade and investment collaboration through diversifying critical value chains and opening new markets.
