Gothenburg [Sweden], May 18 (ANI): Swedish Prime Minister Ulf Kristersson on Sunday (local time) said that Prime Minister Narendra Modi's visit to Sweden marks another milestone in India-Sweden relations, while emphasising the shared ambition to significantly deepen economic and strategic cooperation between India and Europe.

Addressing the European CEO Round Table hosted by Volvo Group, Kristersson said the European Union, Sweden and India recognise the immense potential of stronger partnerships at a time when the world remains increasingly complex and unpredictable. Highlighting growing economic cooperation, the Kristersson said both countries share the ambition of doubling bilateral trade and investment within the next five years.

'The European Union, Sweden and India, all recognise the immense potential that lies in deepening our partnership, not least when the world is as complicated and unpredictable as it obviously is today. PM Modi, your visit marks another milestone in the history of India-Sweden relations... We have a joint ambition to double our bilateral trade and investments within five years. With the current speed, I actually believe it could become a reality even sooner,' the Swedish PM said.

Highlighting growing economic cooperation, the Swedish Prime Minister said both countries share the ambition of doubling bilateral trade and investment within the next five years. Kristersson also praised the recently concluded India-European Union Free Trade Agreement, crediting Prime Minister Modi and European Commission President Ursula von der Leyen for their leadership in finalising the deal.

'The decisive conclusion of the India-EU FTA is largely due to the foresight, the determination and the personal leadership of PM Modi and President von der Leyen... I regard this FTA not as the end of the road, but the beginning of a new journey... Prime Minister Modi, I know the year 2047 holds a special meaning in India...you have laid out a clear vision for this occasion. Viksit Bharat, Sweden and the entire European Union will be India's partners on this journey all the way to 2047 and beyond,' he said.

Meanwhile, European Commission President Ursula von der Leyen, who also addressed the CEO Round Table, said the India-EU summit held earlier this year in New Delhi marked a turning point in bilateral ties. She added that both sides are committed to signing and operationalising the agreement at record speed by the end of the year.

'It has only been a few months since you (PM Modi) hosted me in New Delhi for our ground-breaking EU-India summit. We succeeded indeed in concluding our landmark trade agreement - we call it the mother of all deals... we are committed to signing the agreement by the end of the year and making it fully operational at record speed,' said von der Leyen.

Von der Leyen further welcomed Sweden's commitment to doubling economic exchanges with India over the next five years and expressed hope that other European nations would follow Sweden's example in strengthening ties with India.

'The trade agreement opened the door; an investment agreement walks us through this door. And from this foundation, member states like Sweden can build stronger bilateral ties with India. The new strategic partnership is proof of this. And this is exactly how it should be: the commitment to double economic exchange between the two countries in the next 5 years. That is the ambition that Europe needs. I hope that other member states will follow Sweden's good example,' said von der Leyen.

PM Modi is in Sweden currently, which is the third leg of his five-nation tour. He will later head to Norway on May 18. (ANI)