Describing the proposed pact as potentially historic, she said negotiations had reached an advanced stage, even though some issues still needed to be resolved before the agreement could be sealed.

Speaking to global political and business leaders, von der Leyen highlighted the strategic importance of the deal for both sides at a time of growing geopolitical uncertainty and shifting trade alliances.

She said the agreement could create a combined market of nearly two billion people and account for close to a quarter of global gross domestic product, underlining why some have dubbed it the “mother of all trade deals.”

Her remarks reflected the EU’s broader push to diversify trade partnerships and reduce overdependence on a small number of markets.

Negotiations between the EU and India have spanned years, marked by pauses, restarts and complex discussions over tariffs, market access, labour standards, environmental rules and intellectual property protections.

Recent progress suggests both sides are now more aligned, driven by shared interests in economic growth, supply chain resilience and strategic autonomy. Analysts say global disruptions, including trade tensions elsewhere and supply chain shocks, have added urgency to the talks.

For India, the proposed agreement offers the prospect of expanded access to one of the world’s largest consumer markets, potentially boosting exports in sectors such as pharmaceuticals, textiles, information technology services and manufacturing.

Indian officials have repeatedly said a balanced deal could support domestic growth, job creation and investment, while positioning India as a key alternative manufacturing and services hub in the global economy.

From the European perspective, the trade pact would open doors to a fast-growing economy with a large and youthful population. European companies could gain improved access to India’s vast market, particularly in areas like automobiles, renewable energy, financial services, digital technology and high-end manufacturing.

The EU also sees the deal as a way to strengthen ties with a major democratic partner in Asia and reinforce rules-based trade at a time when protectionist pressures are rising globally.

Von der Leyen’s comments also come amid efforts by Brussels to broaden its trade network beyond traditional partners. The EU has been pursuing agreements with countries and regions across Asia, Latin America and the Indo-Pacific as part of a strategy to diversify supply chains and enhance economic security.

A successful agreement with India would be one of the most significant achievements of this strategy, given the size and complexity of the Indian market.

While optimism has grown, officials on both sides acknowledge that challenges remain. Issues such as tariff reductions on sensitive goods, regulatory standards, data protection and sustainability commitments have historically proven difficult.

However, recent diplomatic engagement at the highest levels has helped narrow differences, with leaders signalling political will to push the deal across the finish line.

Von der Leyen is expected to travel to India in the coming days, a visit that could provide additional momentum to the talks. Her trip is seen as a sign of the EU’s seriousness about concluding the agreement and strengthening its partnership with New Delhi.

Any breakthrough during the visit would be closely watched by global markets and policymakers alike.

If concluded, the EU-India free trade agreement could mark a turning point in relations between the two economies, setting the stage for deeper cooperation not only in trade but also in areas such as climate action, technology, and geopolitical coordination.

As negotiations enter their final phase, expectations are rising that the long-discussed deal may finally become a reality.

South Korea, hosting the 2025 APEC Summit in the historic city of Gyeongju, has played a key role in guiding discussions among the 21 member economies that together account for half of global trade and over 60 percent of the world’s GDP.

The atmosphere at this year’s summit has been notably constructive, with leaders and ministers emphasizing mutual understanding, economic stability, and the shared goal of maintaining open and fair trade systems.

During a press briefing, South Korean Foreign Minister Cho Hyun expressed optimism about the progress being made in finalizing the joint declaration.

“We are very close to reaching a consensus,” Cho said, noting that talks on both the ministerial statement and the leaders’ declaration have been productive and forward-looking.

He added that South Korea is confident the agreements will reflect a shared commitment to cooperation, inclusivity, and sustainable economic development.

The summit’s discussions have revolved around key global challenges, including the need to rebuild trust in multilateral trade systems, stabilize global supply chains, and address the economic impact of protectionist trends.

Despite differing national interests, most APEC members have agreed on the importance of strengthening multilateralism and maintaining open channels for trade and investment.

South Korea’s Minister for Trade, Yeo Han-koo, highlighted that the nation supports a global system based on fairness and inclusivity.

“It is in line with our interest for the world’s leading economies to find balance and stabilize supply chains and trade relationships,” Yeo said, referring to the significance of strong ties between the United States, China, and other Asia-Pacific partners.

This year’s summit also emphasized innovation, digital transformation, and green growth as essential pillars for the region’s future prosperity. South Korea, known for its technological leadership, has encouraged other member economies to embrace digitalization as a pathway toward resilient and diversified trade.

Discussions also touched upon the need for regional cooperation in areas such as clean energy, sustainable infrastructure, and inclusive development, ensuring that smaller and developing economies can benefit from the shared growth of the Asia-Pacific region.

The APEC forum has faced challenges in recent years, including rising trade tensions and disruptions to global supply chains. However, this year’s summit has demonstrated a renewed spirit of collaboration.

Member countries expressed a collective determination to restore confidence in multilateral cooperation and ensure that global economic policies promote mutual benefit rather than division.

Foreign Minister Cho emphasized that tariffs and trade barriers were not the only obstacles to global growth. “We are facing complex challenges in global value chains, technological transitions, and equitable access to resources,” he said.

“APEC has an opportunity to address these challenges collectively and establish a roadmap that benefits all its members.”

South Korea’s hosting of the APEC Summit has been widely viewed as a diplomatic success, reflecting its growing leadership role in fostering regional stability and dialogue.

The event also provided opportunities for bilateral meetings, where leaders discussed initiatives in trade, energy, innovation, and infrastructure.

While some high-profile leaders departed before the final day, the momentum of the summit continued under South Korea’s careful facilitation.

The country’s emphasis on balance, inclusivity, and pragmatic cooperation helped maintain a positive tone and encouraged nations to align their economic strategies for shared progress.

As the summit concludes, expectations are high that APEC’s forthcoming joint declaration will reaffirm the members’ commitment to an open, rules-based international trading system and sustainable economic development.

It is seen as a strong step toward restoring confidence in regional partnerships and ensuring that the Asia-Pacific remains a driver of global growth and innovation.