From News Desk
India and the Netherlands have announced the establishment of the India–Netherlands Joint Trade and Investment Committee (JTIC) through a Memorandum of Understanding (MoU), marking an important milestone in further strengthening bilateral trade, investment and economic cooperation between the two countries. The MoU, signed between Ministry of Commerce and Industry, Government of Republic of India and Ministry of Foreign Affairs of the Kingdom of the Netherlands, was formally announced on the occasion of the visit of the Dutch Foreign Minister David van Weel to India and his bilateral meeting with the Union Minister of External Affairs Minister Dr S Jaishankar.
The MoU provides for establishment of the JTIC, a formal institutional framework for regular dialogue and cooperation on trade and investment matters. The JTIC will serve as a dedicated mechanism to review bilateral trade relations, promote two-way investments, address investment and trade barriers, and explore collaboration in sectors of mutual interest.
Under the MoU, the JTIC will meet annually, alternately in India and the Netherlands, ensuring continuity and sustained engagement at the institutional level. The JTIC will be co-chaired by Additional Secretary, Department of Commerce, Ministry of Commerce and Industry of the Republic of India and the Director General (Foreign Economic Relations), Ministry of Foreign Affairs of the Kingdom of Netherlands and would comprise delegations of both sides consisting of government officials and other members as designated.
The objectives of the JTIC are to –
- Contribute to identification and elimination of trade and investment barriers;
- Contribute to identification of trade and investment facilitation measures, including in the focus areas of cooperation;
- Promote interaction between various Chambers of Commerce and Industry between the two countries; especially in Micro, Small and Medium Enterprises (MSME); and
- Explore enhancement of cooperation in sectors of mutual interest including organizing consultations between the private sector and the governments, where required, for enhancing bilateral trade and investment flows including exchange of technical knowhow and transfer of technological innovation especially in the small and micro sector.
The signing of the MoU reflects the shared commitment of India and the Netherlands to deepen their economic partnership, foster resilient and diversified supply chains, and promote sustainable and inclusive growth. It also complements ongoing bilateral and multilateral engagements, reinforcing the strategic dimension of India–Netherlands relations.
Both sides expressed confidence that the JTIC, established under the MoU, will play a pivotal role in advancing mutually beneficial trade and investment outcomes.
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