India-Nordic-Baltic region aim to create long term synergies among investors from both region

Subject: IR

Section: Places in news

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External Affairs Minister S Jaishankar expressed optimism for the ongoing India-EU Free Trade Agreement (FTA) negotiations, hoping for a prompt conclusion during the 2nd India Nordic Baltic Business Conclave.
Highlighting the promising India-Nordic Baltic relationship, Jaishankar emphasized natural synergies, proposing collaboration in addressing Global South challenges and advancing the Global Biofuels Alliance.
He noted opportunities for Nordic-Baltic countries in India, including expanded trade, joint R&D projects, and telemedicine.
Positive developments such as institutional frameworks for business cooperation and direct flights were highlighted.
Ministers from Nordic-Baltic countries emphasized collaboration in sustainability, digitalization, education, and innovation, viewing India as crucial for economic growth and identifying potential partnerships in fishing expertise and aquaculture.

Some more facts about The Nordic Baltic Eight (NB8)

NB8 is a regional framework consisting of the five Nordic countries i.e Denmark, Finland, Iceland, Norway, and Sweden and the three Baltic countries i.e Estonia, Latvia, and Lithuania.
It was established in 1992 to foster closer ties between the Nordic and Baltic countries.