New Delhi [India], July 8 (ANI): The Netherlands expects its newly declared strategic partnership with India to deepen cooperation in trade, investment and critical minerals, with the proposed India-European Union Free Trade Agreement (FTA) expected to further strengthen economic ties, Dutch Ambassador to India Marisa Gerards said.

Speaking to the media on the sidelines of the United Breweries Limited Socio-Economic Impact Study FY 2024-25 event in New Delhi on Tuesday, Gerards highlighted the growing momentum in bilateral relations following Prime Minister Narendra Modi's recent visit to the Netherlands from May 15-17.

Referring to the visit, Gerards said, 'We had the visit of Prime Minister Modi to the Netherlands, and we have declared a strategic partnership between our two countries and trade and investment is a very important part of that strategic partnership.'

She said the proposed India-EU FTA would further enhance economic cooperation between the two sides.

'With the FTA between the EU and India, it will be a great help as well to have a booming economy. We are looking forward; we have many different sectors where we do business... So this is all very, very important for us over the coming five years,' she said.

Highlighting cooperation in critical minerals, the Ambassador said India and the Netherlands had signed a Memorandum of Understanding (MoU) to strengthen collaboration in the strategically important sector.

'We signed an MOU between our two countries on this very important issue of critical minerals, and we will try to see how we can work much closer together because this is of critical and strategic importance for both our countries.'

Emphasising the need for resilient supply chains and economic diversification, Gerards added, 'After all, we have to diversify our economies, and I think this trusted partnership will help us there.'

Prime Minister Narendra Modi's visit to the Netherlands infused deeper collaboration in the fields of semiconductors and critical minerals value chains with the signing of MoUs in these fields.

The Joint Statement issued on May 16 during the visit of PM Modi highlighted the signing of the MoU on a Partnership on Semiconductors and Related Emerging Technology, which provides the framework for intensified cooperation in semiconductors, including in the areas of investment, research and talent exchange.

Earlier on May 16, Prime Minister Narendra Modi, during his visit to the Netherlands, described the country as a 'natural gateway' for Indian businesses entering Europe, saying the historic India-European Union trade agreement would further strengthen ties between the two countries.

Recognising the strategic importance of critical minerals for continued innovation, and the need for global cooperation to build resilient and sustainable supply chains, the two leaders expressed their mutual interest in strengthening cooperation across the critical minerals value chain, including exploration, research and innovation, integration of value chains, supply chain resilience, circularity and ESG standards and related assessments. In this context, the leaders welcomed the signing of a Memorandum of Understanding on Critical Minerals. (ANI)