Swiss-Indian relations to be given boost
Foreign Minister Micheline Calmy-Rey has signed a protocol to revise a double taxation agreement with India at the end of her week-long visit to the country.
The accord, which is subject to approval by parliament, includes provisions on the exchange of information on Swiss bank accounts, according to the finance ministry.
The protocol is also aimed at promoting the further development of bilateral economic relations.
Following an easing of banking secrecy rules in line with the standards of the Organisation for Economic Co-operation and Development in March 2009 Switzerland has so far negotiated 26 revised double taxation accords.
During her visit, Calmy-Rey met her Indian counterpart, S.M. Krishna, Finance Minister Pranab Mukherjee, as well as Environment Minister Jairam Ramesh to discuss stepping up bilateral relations, according to a foreign ministry statement on Monday.
Calmy-Rey announced the opening of a new Swiss Consulate General in Bangalore to boost cooperation in higher education, research, technology and culture.
The government made India a focal point of Swiss foreign economic strategy in 2007. The trading volume stands at more than SFr3 billion ($2.9 billion).
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