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External Affairs Minister S Jaishankar Dominique Hasler, Minister of Foreign Affairs, Education and Sport of Liechtenstein, here on the sidelines of Raisina Dialogue here and discussed progress of TEPA and Ukraine situation.
"Discussed the progress of TEPA, our cooperation in the UN and the Ukraine situation," Jaishankar said in a post on X. India and the European Free Trade Association (EFTA) - comprising Switzerland, Norway, Iceland, and Liechtenstein - took a significant step towards deeper economic collaboration earlier this year with the inauguration of the India-EFTA Desk. This initiative follows the India-EFTA Trade and Economic Partnership Agreement (TEPA), which positions EFTA as the first European bloc to formalize a trade pact with India. The India-EFTA Desk provides structured support to EFTA businesses looking to invest, expand, or establish operations in India. It serves as the primary channel for fostering continuous business-government dialogue. The Indian government has pledged to work closely with EFTA partners to unlock TEPA's full potential. EFTA is an important regional group with several growing opportunities for enhancing international trade in goods and services.EFTA is one important economic block out of the three (other two - EU &UK) in Europe. Among EFTA countries, Switzerland is the largest trading partner of India followed by Norway. TEPA has provisions for Mutual Recognition Agreements in professional services like nursing, chartered accountants and architects. India and the Principality of Liechtenstein established diplomatic relations in 1993, marking three decades of engagement. The Ambassador of India to Switzerland, resident in Berne, is concurrently accredited to Liechtenstein. Over the years, both countries have strengthened ties through diplomatic, economic, and cultural exchanges. Cultural diplomacy has played a key role in bilateral relations. Economic exchanges between the two nations continue to grow. India's key exports to Liechtenstein include glassware, stone articles, sports equipment, dyes, and paints, while its main imports from Liechtenstein comprise mechanical appliances, electrical machinery, pharmaceuticals, and precision instruments. (ANI)
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