India and Romania Strengthen Ties with $3B Trade and Skilled Migration Deal
India and Romania have stepped up their collaboration, with bilateral trade reaching nearly $3 billion in the last fiscal year. A significant aspect of this partnership is a proposed agreement to facilitate the annual migration of around 30,000 skilled Indian professionals to Romania. This was discussed by Minister of State for Commerce & Industry Jitin Prasada and Romania's Foreign Minister Oana-Silvia Țoiu.
The ministers agreed to fast-track cooperation in recruitment and language training, as well as the mutual recognition of qualifications. This will pave the way for the annual migration of Indian professionals, with Romania expressing interest in creating a dedicated pathway for them to meet its labour market needs. The partnership also aims to boost supply-chain resilience and market access in sectors such as petroleum, engineering, pharmaceuticals, and ceramics.
The India-EU Free Trade Agreement (FTA) negotiations, expected to be concluded this year, are also set to benefit this partnership. Additionally, both countries are exploring a Social Security Agreement to benefit Indian workers in Romania.
The proposed partnership between India and Romania for the annual migration of skilled Indian professionals is a significant step in boosting bilateral trade and cooperation. With both countries agreeing to fast-track various aspects of this partnership, it is expected to bring mutual benefits and strengthen the India-EU Free Trade Agreement.
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