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Commerce Minister Piyush Goyal held a bilateral meeting with the Norwegian Minister of Foreign Affairs Espen Barth Eide, where they discussed the implementation of the India-EFTA Trade and Economic Partnership Agreement.
"We discussed the implementation of the India-EFTA Trade and Economic Partnership Agreement (TEPA), strengthening bilateral ties, and boosting trade and investment between our nations," Piyush Goyal wrote on X after the meeting. India-EFTA Trade and Economic Partnership Agreement (TEPA) was signed on March 10, 2024. EFTA comprises of Switzerland, Iceland, Norway and Liechtenstein. EFTA is an inter-governmental organization set up in 1960 for the promotion of free trade and economic integration for the benefit of its four Member States. EFTA has committed to promoting investments to increase the stock of foreign direct investments by USD 100 billion in India in the next 15 years, and to facilitate the generation of 1 million direct employment in India, through such investments. The investments do not cover foreign portfolio investment. Among EFTA countries, Switzerland is the largest trading partner of India, followed by Norway. Earlier, Commerce and Industry Minister Piyush Goyal met with UK Chancellor of the Exchequer Rachel Reeves and Secretary of State for Business and Trade Jonathan Reynolds. They engaged in productive discussions focused on deepening India-UK economic cooperation and strengthening the longstanding partnership between the two nations. India and the United Kingdom have resumed negotiations towards a trade deal between the two countries. Union Minister of Commerce and Industry Piyush Goyal also met with David Lammy, Secretary of State for Foreign, Commonwealth and Development Office of the United Kingdom, at the joint India-UK business reception held at Lancaster House. He also addressed a gathering, alongside UK Secretary of State for Business and Trade Jonathan Reynolds, and spoke about the bright future ahead for the India-UK partnership. (ANI)
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