Kamal Nath launches India- EFTA joint negotiations

Davos, Jan 26 : Expressing hope that India and the European Free Trade Association (EFTA) States would set the tone for a greater economic engagement between mature and developed economies, Union Commerce and Industry Kamal Nath on Saturday launched negotiations for a proposed broad based trade and investment agreement between New Delhi and EFTA members.

Based on the findings of an EFTA joint study group (JSG) on bilateral economic linkages between India and the EFTA states, it was concluded that both sides should advance their economic relationship by exploiting the potential for enhancing trade and investment flows.

Considering the complementary structure of the economies, the JSG concluded that both sides would significantly benefit from a bilateral broad-based trade and investment agreement.

On the JSG's recommendation, a Joint Task Force (JTF) comprising officials from India and EFTA States was constituted to negotiate the proposed broad based trade and investment agreement between India and EFTA States.

ANI