India, EFTA trade pact talks begin

The JTF will monitor the implementations of the recommendations of the India-EFTA Joint Study Group JSG, which was formed on December 1, 2006. The mandate of the JSG was to undertake a comprehensive review of bilateral economic linkages between India and the EFTA states and to recommend measures to strengthen the economic engagement. It was also tasked to explore the feasibility of a bilateral broad-based trade and investment agreement.

The JSG, Nath announced, had since met four times and has submitted its report to the Indian and the EFTA states8217; government.

The JSG has also 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 trade agreement.

The JSF also recommended that the two sides should enter into negotiations for such an agreement. These recommendations have been accepted by the two sides.