Swiss minister: India free trade deal offers competitive edge ‘for many years’
The free trade agreement signed on Sunday between the European Free Trade Association (EFTA) – of which Switzerland is a member – and India will provide “a competitive advantage" for many years, according to Swiss Economics Minister Guy Parmelin.
“I am proud to have signed this agreement,” Parmelin told reporters in Bern on Monday. Negotiations between the EFTA states – Switzerland, Norway, Iceland and Liechtenstein – began almost 16 years ago.
According to Parmelin, the road to the agreement was long and winding. The pact was finally signed in the Indian capital, Delhi, on Sunday.
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The agreement was finalised at a time when India was intensifying its free trade relations, said Parmelin. But the Asian nation has not yet signed a corresponding deal with the European Union, he noted.
The India-EFTA accord also includes chapters on sustainable development – primarily concerning labour rights, and environmental protection, as well as incentives for investment.
The agreement is much more than development aid, said Parmelin, it is an investment in the younger generation.
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Adapted from German by DeepL/dkk/sb
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