New Delhi, March 6 Sibi George, Secretary (West) at the Ministry of External Affairs (MEA), held a meeting with visiting Swiss State Secretary of Foreign Affairs Alexandre Fasel on the sidelines of the 11th Raisina Dialogue in New Delhi on Friday with discussions focused on strengthening bilateral cooperation across various sectors.
During the meeting, George and Fasel also discussed regional and global developments.
"Secretary (West) Ambassador Sibi George met Swiss State Secretary of Foreign Affairs, Mr. Alexandre Fasel on the sidelines of the 11th Raisina Dialogue in New Delhi today. Discussions were held on strengthening bilateral cooperation across diverse sectors and views were exchanged on regional and global developments. Implementation of India EFTA TEPA will foster technological collaboration, quality investments and create job opportunities," MEA spokesperson Randhir Jaiswal posted on X after the meeting.
According to the MEA, commercial contacts between India and Switzerland date back to the early 19th century when in 1851 the Volkart Trading Co. established its offices in Basel and Mumbai. During the First World War, Switzerland set up its consulates in key locations around the world, including in Mumbai, to secure food and economic prospects.
Bilateral ties achieved new heights following PM Narendra Modi's visit to Switzerland in 2016 and 2018 and that of the Swiss President Doris Leuthard to India in 2017.
Negotiations on bilateral Free Trade Agreement (FTA) started in October 2008 and, after 21st round of negotiations held over 16 years, the agreement was finally signed in March 2024. With it, Switzerland and the other European Free Trade Association (EFTA) States - also including Iceland, Liechtenstein and Norway - became the first European partners to conclude a Free Trade Agreement (FTA) with India.
Last November, Union Commerce Minister Piyush Goyal held a meeting with Switzerland's State Secretary for Economic Affairs Helene Budliger Artieda, where they discussed investment opportunities for the pharmaceutical sector.
“Co-chaired a meeting with SECO State Secretary Helene Budliger Artieda with Swiss pharma and biotech companies. Discussions focused on avenues of further cooperation in R&D and expanding investment opportunities for Swiss pharma companies to leverage India's robust healthcare sector,” Goyal stated in a post on X after the meeting.
“Also, discussed the progress made under the India-EFTA Trade and Economic Partnership Agreement (TEPA) with an aim to further enhance collaboration across key sectors for mutual growth,” he added.
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