SWISS WANT INDIA-EFTA PACT SOON

NEW DELHI: Early conclusion of the proposed free trade agreement between India and European Free Trade Association (EFTA) would further boost economic ties between the two sides, Swiss President Doris Leuthard on Friday said.

She said this agreement along with the investment protection framework would usher in a new era of cooperation between India and Switzerland.

EFTA, comprising Switzerland, Norway, Iceland and Liechtenstein, is negotiating a free trade pact, officially dubbed as Trade and Economic Partnership Agreement (TEPA), with India since October 2008. Addressing a business session here, Leuthard said to further strengthen the economic relationship, "we want to bring the negotiations that have been running between India and EFTA since 2008 to an end". She said Switzerland is aware of the sensitivities of both the sides on the pact and this agreement would be important for India as lot of other negotiations are underway in the Asian region.

"I am sure that in this visit, we will have a better understanding and the push by the Indian Prime Minister and me will help the ministers conclude the pending questions," Leuthard said.

The president also said: "If you want to compete, you must open up markets. Switzerland is not somebody you have to be afraid of. We are fair partners, we rely on rules and regulations".