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Speaking to CNBC-TV18 at the sidelines of the G20 TIWG (Trade and Investment Working Group) and TIMM (Trade and Investment Ministerial Meeting) in Jaipur, Schreinemacher said that India and EU as well and the Netherlands can benefit from technological innovations as she batted for mutually beneficial trading system in light of ongoing FTA negotiations between India and the EU.
Describing India as “far ahead worldwide when it comes to technology,” she said that trade in technologies between both the countries can be mutually beneficial. She pitched for sustainable trade in compliance with the Paris Agreement to further global growth and prosperity, saying that even within the EU there are a lot of varying interests, which further increase India is added to the equation.
Hoping for a smooth transition to the CBAM (Carbon Border adjustment mechanism) in Europe, she said out that CBAM is needed to make sure adoption of sustainable production methods. However, she added that it’s also important for the EU to have a level playing field as many of its companies comply with rules relating to sustainability. She said that it’s imperative that the rest of the world also complies with CBAM, lest production gets relocated which may leave many countries worse off.
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