India-Chile FTA Nearing Conclusion, Canada Trade Talks Progressing Well: Piyush Goyal

Speaking to reporters during his two-day visit to the Netherlands, Goyal said negotiations with the Southern African Customs Union (SACU) had also commenced, although the process was expected to take time.

“I can see Chile’s quite ripe for conclusion; Canada is making very good progress. We have just started SACU negotiations, so it may take some time,” the minister said.

SACU, led by South Africa, comprises five members: Botswana, Eswatini, Lesotho, Namibia and South Africa. The two sides signed the terms of reference in August, formally setting the stage for negotiations towards a preferential trade agreement.

Mexico, Brazil Trade Discussions

Goyal said Mexico was keen to reach an early harvest trade agreement with India, which could help advance selected areas of trade cooperation ahead of a broader arrangement.

He also expressed hope that continuity in Brazil’s government following its elections would help accelerate discussions on expanding India’s existing Preferential Trade Agreement (PTA) with the Mercosur trading bloc.

The government has been pursuing trade arrangements with multiple countries and regional groupings as part of its broader efforts to strengthen export opportunities and deepen economic engagement with international partners.

Strengthening India-Netherlands Economic Ties

During his Netherlands visit, Goyal held meetings with Sjoerd Sjoerdsma, Minister for Foreign Trade and Development Cooperation; Heleen Herbert, Minister of Economic Affairs and Climate; and Arthur van Dijk, King’s Commissioner of North Holland.

He also interacted with members of the Dutch House of Representatives Committee on Foreign Trade and Development Cooperation and the Senate Committee on European Affairs. Discussions covered bilateral economic relations and the wider India-European Union economic partnership.

A key engagement during the visit was the India-Netherlands Business Forum, jointly chaired by Goyal and Sjoerdsma. The event brought together around 200 participants, including prominent Indian and Dutch businesses.

The forum examined opportunities to expand bilateral trade, strengthen investment partnerships and encourage greater business collaboration in the context of the India-EU Free Trade Agreement.

Focus on Investment and Industrial Cooperation

Goyal also held individual meetings with chief executives of Dutch companies operating in sectors including semiconductors, electronics, logistics, energy and retail.

In addition, he participated in a roundtable with chief executives and senior corporate leaders from 15 Dutch companies. The Indian Embassy in The Hague organised the meeting in collaboration with HSBC Netherlands.

The minister highlighted the growing momentum in India-Netherlands relations following the elevation of bilateral ties to a Strategic Partnership and the conclusion of the India-EU FTA.

He also emphasised the Netherlands’ importance as a gateway to European markets, pointing to opportunities for businesses to strengthen commercial links and explore new avenues for investment and cooperation.