New Delhi, Oct 5 (IANS): The proposed India-European Union Free Trade Agreement (FTA) is expected to be signed by the end of 2026 and could come into force next year after the ratification process is completed by both sides, Finland’s Ambassador to India Mikko Kivikoski said on Monday.
Speaking to IANS in the national capital, Kivikoski expressed optimism about the progress of negotiations between India and the EU, saying both sides are hopeful of concluding the agreement before the end of the year.
“At the moment, we hope that the signing will take place by the end of the year. After that, the agreement will need to be ratified by the Indian government and the European Union. That will most likely take a few months, so hopefully it will come into force sometime next year,” he said.
Highlighting the broader strategic partnership between India and the European Union, the Finnish envoy noted that defence and security cooperation has gained greater prominence in bilateral engagement following the India-EU Summit held earlier this year.
He said Finland, as a member state of the European Union, is keen to deepen cooperation with India in defence and security and pointed to ongoing collaboration involving Finnish companies.
According to Kivikoski, Nokia and Finnish satellite company ICEYE recently announced cooperation on sovereign dual-use satellite communication systems that can be owned and operated by participating nations.
The ambassador also underscored the potential for closer collaboration between India and Finland in areas such as artificial intelligence, defence, education and innovation.
“I think the formula is quite simple. We might be small in size, but we are quite big when it comes to innovation and solutions. India, of course, has the scale and the talent. So, this is quite a good match. Basically, when we combine our strengths, we can achieve big things together,” Kivikoski mentioned.
