German Chancellor Olaf Scholz on Tuesday said he is hopeful of success in free trade agreements (FTAs) with India and some other countries as he underlined that Europe needs cooperation with every part of the world.

"This (FTA talks) should be more successful now than it was in the past. It will help if we have more free trade agreements with other countries and regions," he said at the World Economic Forum Annual Meeting here.

Earlier in the day, European Commission President Ursula von der Leyen also said she will soon travel to India to upgrade a strategic partnership.

Scholz said, "Europe needs cooperation with every part of the world. We are willing to do this. But as you know there are lot of strategies for starting, for increasing our cooperation. But there is willingness and therefore we are so much supporting the idea of free trade and also developing free trade agreements."

"I'm happy that we are now successful with Mexico and South America's Mercosur bloc but these should not be the last ones we do," he said.

The chancellor said, "There are many regions which are working very hard to get it done, there is India, with Indonesia, with Malaysia, with many other countries and regions." He expressed confidence that these talks would get more success than earlier ones.

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