India, EFTA take significant steps towards new Trade and Partnership Agreement
India and the European Free Trade Association (EFTA) states have recently taken important steps towards a new trade and partnership agreement.
An overview of the news
At the ministerial meeting held in Brussels on May 15, Commerce and Industry Minister Piyush Goyal held discussions with representatives of EFTA to work towards a comprehensive new Trade and Partnership Agreement (TEPA).
The Ministerial meeting marked an important milestone in taking forward the negotiations on TEPA between India and the European Free Trade Association.
Both sides stressed the importance of principles of good faith and respect for each other's sensitivities in order to achieve a fair, just and balanced settlement.
About India and the European Free Trade Association (EFTA)
EFTA has established bilateral relations and cooperation in the field of trade and commerce.
The objective of this cooperation is to strengthen economic ties and promote mutually beneficial trade between the two countries.
The EFTA is an intergovernmental organization consisting of four member states: Switzerland, Norway, Iceland, and Liechtenstein.
These countries have a strong tradition of trade and economic liberalization.
India and EFTA have engaged in negotiations to establish a comprehensive trade agreement.
The negotiations cover various aspects, including trade in goods, services, investment, intellectual property rights, and other trade-related issues.
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