Published by Global Banking & Finance Review®
Posted on June 16, 2025
2 min readLast updated: January 23, 2026
Add as preferred source on GoogleIndia plans to finalize an EU trade deal by year-end, with Cyprus backing. The India-Middle East-Europe Corridor is key to enhancing ties.
NICOSIA (Reuters) -India expects to finalise a free trade agreement with the European Union by the end of this year, Prime Minister Narendra Modi said on Monday, while Cyprus, which assumes the EU presidency in 2026, said better ties would be its priority.
Modi, on an official visit to the east Mediterranean island, said there were unlimited possibilities in expanding economic ties with Cyprus in a visit aimed at pushing forward India’s global trade agenda.
"We are working on finalising a mutually beneficial India-EU trade agreement by the end of this year," Modi said in joint remarks with Cypriot President Nikos Christodoulides.
India is pursuing a trade link by sea and rail known as the India-Middle East-Europe Corridor, but the visit is being held in the shadow of an escalating crisis in the Middle East."We agree the India - Middle East Europe Corridor will pave the way for peace and prosperity in the region," Modi said.
Cyprus, which has close relations with India through its shared membership of the Commonwealth, is offering facilities to be a first point of entry to Europe and a transhipment hub, Christodoulides said.
"A strengthening of EU-India relations will be among the priorities of the Cypriot EU presidency," Christodoulides said. Cyprus assumes the rotating six-month presidency of the bloc in early 2026.
(Reporting by Michele Kambas, Editing by William Maclean and Barbara Lewis)
India expects to finalize a mutually beneficial trade agreement with the European Union by the end of this year.
Cyprus is offering facilities to be a first point of entry to Europe and a transshipment hub, enhancing India's trade links.
India is pursuing a trade link by sea and rail known as the India-Middle East-Europe Corridor to strengthen its trade connections.
The Cypriot President mentioned is Nikos Christodoulides, who supports the strengthening of EU-India relations.
Cyprus will assume the rotating six-month presidency of the EU in early 2026.
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