15-May-2023: Significant progress in taking forward the negotiations on India-EFTA TEPA
Following is the text of Press Communique issued at the conclusion of talks between Shri Piyush Goyal, Union Minister of Commerce & Industry, Consumer Affairs & Food & Public Distribution and Textiles, Government of India and leaders of European Free Trade Association:
“India and the European Free Trade Association (EFTA) States (Iceland, Liechtenstein, Norway, and Switzerland) have taken a significant stride forward in their quest for a Trade and Economic Partnership Agreement (TEPA). In a Ministerial meeting held in Brussels today, Shri Piyush Goyal, Minister of Commerce & Industry, Consumer Affairs & Food & Public Distribution and Textiles of India; 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 Jäger, 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, 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. Indeed, 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.”
26-Apr-2023: High-level delegations from India and EFTA meet to boost bilateral trade and economic partnership
Ministers and high-level representatives from India and the European Free Trade Association (EFTA) States (Iceland, Liechtenstein, Norway, and Switzerland) gathered in New Delhi to discuss the prospects of resuming their negotiations towards a Trade and Economic Partnership Agreement (TEPA).
The meeting provided an opportunity for both sides to exchange views on the state of play of their negotiations and explore ways to advance the talks. The participants acknowledged the challenges posed by the current global economic and trade environment, as well as the need to address the bilateral trade and economic partnership issues in a constructive and pragmatic manner. Both sides agreed to continue their efforts to resolve all outstanding issues and work towards deepening and strengthening the economic partnership, while contributing to a more inclusive global trading system.