City
Epaper

India, European Free Trade Association members discuss modalities of engagement for trade and partnership agreement

By ANI | Published: May 15, 2023 3:49 PM

Brussels [Belgium], May 15 : India and the European Free Trade Association (EFTA) States have taken a significant ...

Open in App

Brussels [Belgium], May 15 : India and the European Free Trade Association (EFTA) States have taken a significant stride forward in their quest for a Trade and Economic Partnership Agreement (TEPA) and have discussed the modalities of engagement for working towards a comprehensive agreement.

Commerce and Industry Minister Piyush Goel discussed the modalities of engagement for working towards a comprehensive TEPA with leaders of (EFTA) states (Iceland, Liechtenstein, Norway, and Switzerland).

A press communique issued at the conclusion of talks said the ministerial meeting marked a significant milestone in taking forward the negotiations on a TEPA between India and EFTA.

"India and the European Free Trade Association (EFTA) States have taken a significant stride forward in their quest for a Trade and Economic Partnership Agreement," it said.

Apart from Goyal, the ministerial meeting was attended by Guy Parmelin, Swiss Federal Councillor and Head of the Federal Department of Economic Affairs, Education and Research; Einar Gunnarsson, Ambassador, Permanent Representative at the Permanent Mission of Iceland in Geneva; Kurt Jager, Ambassador, Permanent Representative at the Permanent Mission of Liechtenstein to EFTA, WTO and the UN in Geneva, and Erik Andreas Underland, Specialist Director at the Norwegian Ministry of Trade, Industry, and Fisheries.

They discussed the "modalities of engagement for working towards a comprehensive TEPA". This second ministerial gathering followed a series of expert meetings that took place online the previous week.

"The Ministerial meeting marked a significant milestone in taking forward the negotiations on a TEPA between India and EFTA. Both sides emphasised the importance of building their discussions on principles of trust and respect for each other's sensitivities to achieve a fair, equitable and balanced agreement," the press communique said.

It said a TEPA between EFTA and India could bring significant economic benefits, such as integrated and resilient supply chains and new opportunities for businesses and individuals on both sides leading to increased trade and investment flows, job creation, and economic growth.

"The delegations agreed to ramp up their efforts and continue their discussions at a steady pace, with several more meetings planned over the coming months, to arrive at a common understanding on critical issues pertaining to TEPA," the communique said.

Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Tags: MissionEuropean free trade associationTepaPiyush GoelGuy parmelinBrusselsScience Mission DirectorateUs MissionSwachh Bharat MissionUn Peace Keeping MissionsMission IndradhanushUn MissionThe Science Mission DirectorateJawaharlal Nehru National Urban Renewal MissionNational Health Mission
Open in App

Related Stories

NationalIndia Signs Free Trade Agreement With European Free Trade Association; PM Narendra Modi Says ‘Watershed Moment’

InternationalBelgium: Protesting Farmers Hurl Eggs, Clog Streets With Tractors As EU Summit Begins in Brussels (Watch Videos)

MaharashtraSolapur Takes Top Honors in State National Health Program Ranking

MaharashtraChildren deprived of vaccination to 'Catch Up'

PoliticsUN official in Jordan voices concern over funding shortfall

Business Realted Stories

BusinessGrowington Ventures India Ltd aims for a strong growth going forward

BusinessDHFL bank loan case: Dheeraj Wadhawan moves court for bail after his arrest

BusinessThreads rolls out its own fact-checking programme to rate false content

BusinessSHEOWS Honors Mothers’ Weekend, Fostering Love and Belonging for Ammas

Businessrealme GT 6T introduces its top-performing trio