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Joint Statement after the 10th India-EU summit

By M Rama Rao, India Editor, Asian Tribune
New Delhi, 07 November

India and European Union issued a joint statement at the end of their 10th summit at Hyderabad House here. Multilateral system, International financial crisis, global economy and climate change and energy were discussed at length. There were areas of agreement as also areas of differences.

Text of Joint Statement

1. The Tenth India-European Union Summit was held in New Delhi on 6 November 2009. The Republic of India was represented by the Prime Minister, Dr Manmohan Singh. The EU was represented by Mr Fredrik Reinfeldt, Prime Minister of Sweden, in his capacity as President of the Council of the European Union, and Mr. Jose Manuel Durão Barroso, President of the European Commission. The leaders discussed regional and global issues, and the means to prioritise, rationalise and strengthen EU-India relations. The leaders expressed satisfaction with the rapid expansion of the relationship between the EU and India since the first Summit in 2000, which is now deeper and stronger, founded on a global, strategic and mutually beneficial partnership.

I. Global Issues

Strengthening the multilateral system

2. Recalling that their Strategic Partnership is rooted in shared values and principles – democracy, rule of law, respect for human rights and fundamental freedoms – both India and the EU agreed on the importance of an effective multilateral system, centred on a strong United Nations, as a key factor in tackling global challenges. In this context, they also recognized the need to pursue the reform of the main UN bodies, among them the General Assembly, ECOSOC and the Security Council, with a view to enhancing the representativeness, transparency and effectiveness of the system.

Climate change and energy

3. India and the EU underlined that climate change is one of the most important global challenges. They reaffirmed the provisions and principles of the United Nations Framework Convention on Climate Change (UNFCCC), including that of common but differentiated responsibilities and respective capabilities, and underscored the importance of its full, effective and sustained implementation.

They recognised the scientific view that the increase in global average temperature above pre-industrial levels ought not to exceed 2 degrees Celsius. They recognised that this objective should take into account the overriding priority of poverty eradication and social and economic development of the developing countries. They will work together to achieve an ambitious and globally agreed equitable outcome of Copenhagen based on the principles and provisions of UNFCCC and the Bali Action Plan.

In this context, they expressed determination to step up the pace of negotiations. They agreed that, in the fight against climate change, equal priority had to be given to mitigation and adaptation, and recognised the critical role of enabling financial and technological support to developing countries to this end. The EU highlighted the importance of the EU Energy and Climate package. India highlighted the importance of its National Action Plan on Climate Change. These are significant contributions to global action to addressing climate change and in meeting the ultimate objective of the Convention. Both parties acknowledged the right to development and growth of developing countries and recognized that enhancing the implementation of UNFCCC represents an opportunity to promote continued climate-friendly economic growth, sustainable development and the fight against poverty. In this context they expressed hope that a global goal of significantly reducing greenhouse gas emissions by 2050 compared to 1990 levels would be reached at Copenhagen. They will prepare ambitious, credible and country-owned climate-friendly plans including adaptation and mitigation actions and will work together to implement the agreed outcome at Copenhagen.

4. Both India and the EU underline the importance of achieving security, sustainability and reliability of energy supplies. The increased production and use of renewable energy and the efforts aimed at improving access to energy and increasing energy efficiency are viewed by both sides as an important contribution to fulfilling sustainable development needs as well as achieving greater energy security. To this end the leaders welcomed the launch of the International Partnership for Energy Efficiency Cooperation (IPEEC) in May 2009 at the G8+5 Energy Ministerial Meeting in Rome and looked forward to a close EU-India cooperation in the framework if IPEEC. They also welcomed the ongoing establishment of the International Renewable Energy Agency (IRENA) to which aims both parties adhere and will join efforts for a rapid transition towards the widespread and sustainable use of renewable energy worldwide.

International financial crisis and global economy

5. Leaders addressed the current international financial and economic crisis and its severe impact on the world’s Economy. They repeated their commitments to the decisions taken at the London and Pittsburgh G20 Summits to continue to sustain a strong policy response until the recovery is secured, to prepare internationally co-ordinated and cooperative exit strategies to be implemented once the recovery has taken hold, to strengthen and reform financial regulatory and supervisory systems to ensure global financial stability and prevent future crises, and to ensure that the International Financial Institutions reflect contemporary economic realities.

6. They called for strengthening the signs of recovery through an inclusive and global approach and for maintaining adequate flow of finance to the developing countries. They welcomed progress being made to respond to the crisis, and to ensure the smooth running of the financial sector and to support global demand so as to revive the real economy. They called on the international community to continue to demonstrate vision and resolution and to take effective economic and financial measures to promote strong, sustainable and balanced global economic growth. In order to avoid a repetition of such a crisis, they stressed the need to address systemic failures, to reform the global financial architecture and to promote an international framework of reform of the regulation of the financial markets.

Both sides underlined the importance of the financial services reforms that have been implemented in India. In this context, both sides agreed to develop a deeper dialogue on financial services.

7. India and the EU reconfirmed their adherence to the G 20 commitment to refrain from adopting protectionist measures in all its forms covering trade in goods and services, investments and financial flows. ...(more)

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