India and EFTA states conclude 20th round of trade talks
Financial Express - 1 December 2023
India and EFTA states conclude 20th round of trade talks
By Huma Siddiqui
Commerce Secretary Sunil Barthwal headed the Indian representation during this meeting, while Helene Budliger Artieda, Swiss State Secretary at the State Secretariat for Economic Affairs, led the EFTA delegation.
India and the European Free Trade Association (EFTA) States, comprising Iceland, Liechtenstein, Norway, and Switzerland, recently completed the 20th round of negotiations for a Trade and Economic Partnership Agreement (TEPA). The discussions, which spanned ten days from November 20-30, were conducted via videoconference in Geneva.
L. Satya Srinivas, Additional Secretary in the Department of Commerce, led the Indian delegation, while Ambassador Markus Schlagenhof, Delegate of the Federal Council for Trade Agreements and head of the World Trade Division at the Swiss State Secretariat for Economic Affairs, represented the EFTA, also acting as its spokesperson.
The negotiations delved into various aspects, including trade in goods and services, rules of origin, trade facilitation, technical barriers to trade, sanitary and phytosanitary measures, intellectual property rights, and trade and sustainable development. Additionally, a hybrid-format meeting between high-level representatives from India and the EFTA States took place to assess progress and address crucial challenges.
Commerce Secretary Sunil Barthwal headed the Indian representation during this meeting, while Helene Budliger Artieda, Swiss State Secretary at the State Secretariat for Economic Affairs, led the EFTA delegation.
Expressing satisfaction with the progress achieved, the EFTA spokesperson acknowledged the collaborative efforts of experts in streamlining discussions and addressing challenging issues. Both sides emphasized their shared commitment to maintaining momentum for a swift and efficient conclusion of the agreement. Future high-level meetings are anticipated.
Economic relations between the EFTA States and India have witnessed steady growth over the past two decades. In 2022, their combined merchandise trade exceeded USD 6.1 billion. Notable imports to the EFTA States included organic chemicals (27.5 percent), while India’s main exports comprised machinery (17.5 percent) and pharmaceutical products (11.4 percent), excluding gold. Services trade and foreign direct investment have also seen substantial levels of engagement. The focus now is on prioritizing necessary improvements for the earliest realization of mutual benefits in this evolving partnership.
