3rd India-EU High Level Dialogue on Trade and Investment Held

The 3rd High Level Dialogue between India and the European Union (EU) was held on 26 August 2023 in New Delhi .  The meeting was  co-chaired by the Union Minister of Commerce and Industry Piyush Goyal and Vice-President of the European Commission Valdis Dombrovskis.

Both the leaders held discussion on three negotiations going on between India and the European Union . These negotiations consist of an India-EU Free Trade Agreement; a standalone Investment Protection Agreement; and a Geographical Indications Agreement. 

The High Level Dialogue is an outcome of the decision taken at the 15th India-EU Leaders Summit held in July 2020, with an objective for a Ministerial level guidance towards the bilateral trade and investment relations.

European Union 

The European Union is an International organisation consisting of 27 European countries . The European Union was created by the Maastricht Treaty 1992। The European Union came into being on  November 1, 1993. 

The main aim of the European Union was to promote political and economic integration by creating a single currency (Euro) and a common foreign and security policy with a common citizenship.

The European Union has a Parliament with its seat at Strasbourg, France.. The 705 members of the European Parliament are directly elected by the  27 member countries of the European Union .

The European Commission is the EU's politically independent executive arm. It is alone responsible for drawing up proposals for new European legislation, and it implements the decisions of the European Parliament and the Council of the EU.

President of the European Commission  : Ursula von der Leyen

Headquarters : Brussels ,Belgium

Member countries : 27 

EURO ZONE 

It refers to those 20 European countries of the European Union which have abolished their national currency and adopted Euro as their common currency .  Croatia became the 20th country to join it in January 2023.

Euro as a common monetary unit was introduced on 1 January 1999.

Member countries of EuroZone:  Belgium, Croatia, Germany, Spain, France, Ireland, Italy, Luxembourg, the Netherlands, Austria, Portugal and Finland,Slovenia , Cyprus, Malta,  Slovakia, Estonia , Latvia, Lithuania.

The European Central Bank is the monetary authority of the Euro Zone countries.