India-European FTA talks this month
India and the
European Free Trade Association (EFTA) will meet this month in an attempt to
conclude their long pending negotiations, together with the EFTA countries
(Switzerland, Norway, Iceland, Liechtenstein), go ahead with the FTA
So far, 16
rounds of negotiations have taken place, talks for which started in 2008. The
two sides resumed talks on the agreement here in January after a gap of three
years
The proposed
agreement covers trade in goods and services, investments, trade facilitation,
customs cooperation, IRPR protection and public procurement.
What is EFTA?
EFTA was founded in 1960.The European Free Trade Association (EFTA) is an intergovernmental organisation set up for the promotion of free trade and economic integration to the benefit of its four Member States.
The Association is
responsible for the management of:
·
The EFTA Convention, which forms
the legal basis of the organisation and governs free trade relations between
the EFTA States;
·
EFTA’s worldwide network of free
trade and partnership agreements; and
·
The European Economic Area (EEA)
Agreement, which enables three of the four EFTA Member States (Iceland,
Liechtenstein and Norway) to participate in the EU’s Internal Market.
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