India, EFTA member countries discuss resumption of talks for trade pact
India and the four-nation bloc EFTA on Wednesday discussed ways to resume negotiations for a free trade agreement with a view to strengthening economic ties between the two regions.
The subject came up for discussion during a meeting of high-level representatives from India and the European Free Trade Association (EFTA) states (Iceland, Liechtenstein, Norway, and Switzerland) here.
Both sides "discuss the prospects of resuming their negotiations towards a Trade and Economic Partnership Agreement (TEPA)," the commerce ministry said in a statement.
Free trade agreements between the two regions are officially dubbed TEPA. Under such pacts, two trading partners significantly reduce or eliminate customs duties on the maximum number of goods traded between them, besides easing norms to promote trade in services and investments.
The high-level delegations were composed of Commerce and Industry Minister Piyush Goyal; Jan Christian Vestre, Minister of Trade and Industry of Norway; Helene ..