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Agreeing to continue efforts to resolve all outstanding issues and work towards strengthening the economic partnership amid challenges posed by the current global economic and trade environment, ministers from India and the four-nation bloc of European Free Trade Association (EFTA) met in Delhi on Wednesday to discuss prospects to resume negotiations towards a trade agreement.
“The meeting provided an opportunity for both sides to exchange views on the state of play of their negotiations and explore ways to advance the talks.The participants acknowledged the challenges posed by the current global economic and trade environment, as well as the need to
address the bilateral trade and economic partnership issues in a constructive and pragmatic manner. Both sides agreed to continue their efforts to resolve all outstanding issues and work towards deepening and strengthening the economic partnership, while contributing to a more inclusive global trading system,” a joint communiqué released after the meeting stated.
The EFTA, which is an intergovernmental organisation for the promotion and intensification of free trade, was founded as an alternative for states that did not wish to join the European Community. Negotiations on a broad-based Trade and Investment Agreement between the EFTA states and India were officially launched in January 2008 following consideration of the recommendations of a joint EFTA-India study group.
