Ireland and India agreed to set up a Joint Economic Commission (JEC), following a bilateral meeting between S Jaishankar and Tanaiste Simon Harris earlier today in Dublin.
The meeting assumed significance as it marked the first visit by an Indian Foreign Minister to Ireland and was the first high-level political visit from India since the visit of Prime Minister Narendra Modi in 2015.
In a statement, the Department of Foreign Affairs said: “The Tánaiste and Minister Jaishankar discussed a number of bilateral matters, including their agreement to establish a Joint Economic Commission (JEC) between Ireland and India. The move builds on longstanding links and cooperation between the two countries and offers an opportunity to consult on trade and economic issues and increase awareness of both countries and their respective economic priorities among key decision makers.”
Harris, Ireland’s Minister for Foreign Affairs and Trade, said the establishment of a JEC is a fitting way to progress the increasingly important trade and economic relationship between Ireland and India, following the celebration of 75 years of bilateral relations in 2014.
“The JEC, once established, will serve as a vehicle to enhance internal cooperation and coordination and strengthen our likeminded partnership with one of the largest economies in the world, and one with huge potential for increased bilateral trade and investment,” he added.
Both leaders also discussed a range of bilateral issues including Ireland and India’s cultural and people-to-people links, Russia-Ukraine war, the situation in the Middle East and climate change, the statement stated.
A Joint Economic Commission (JEC) is a bilateral forum between Countries which allows them to consult on important trade and investment issues, to discuss developments at the WTO, and to increase awareness of both countries and their respective economic priorities among key decision makers.
It is proposed that the JEC, when established, will meet on a biennial basis, at senior official level, with location alternating between India and Ireland. Work on the detail of the JEC will be taken forward by officials in the coming weeks, with a view to Ireland and India entering into a formal agreement later this year.