India and Romania Strengthen Economic Cooperation, Discuss Progress on EU FTA

Minister of State for Commerce & Industry Jitin Prasada held a bilateral meeting in Bucharest with Romania’s Minister of Foreign Affairs, Oana-Silvia Țoiu, to deepen trade and investment cooperation. The discussion highlighted the importance of building resilient supply chains and promoting stronger economic ties under the larger India–EU framework. Both sides reaffirmed their commitment to work towards concluding a fair and mutually beneficial India–EU Free Trade Agreement (FTA) within this year, in line with ongoing negotiation priorities.

The Ministers reviewed the steady growth in trade between the two nations. India’s exports to Romania crossed USD 1.03 billion in FY 2024–25, while total bilateral trade reached USD 2.98 billion in FY 2023–24. They agreed to enhance collaboration in key sectors such as petroleum products, engineering goods, pharmaceuticals, and ceramics, along with improving cooperation on standards, certification, and investment facilitation to support market access.

Both countries emphasized the need for diversified production networks and stronger supply chain partnerships to ensure stability for businesses. They also agreed to maintain momentum through regular official exchanges and coordinated follow-up actions, including mobility cooperation and investor outreach. The meeting reflects a shared commitment to building a stronger, future-ready India–Romania economic partnership.

Source: PIB