Switzerland - India Parliament approves the free trade agreement with India
The Swiss parliament has approved the free trade agreement between the EFTA states and India. After the Council of States, the National Council also approved the corresponding federal decree on Thursday. Switzerland is one of the EFTA states.
20.03.2025, 09:14
SDA
The large chamber reached its decision by 131 votes to 22 with 38 abstentions. Niklaus-Samuel Gugger (EPP/ZH), spokesperson for the Foreign Affairs Committee (FAC-N), spoke of a "historic" agreement with "huge potential for trade and investment".
Swiss Minister of Economic Affairs Guy Parmelin signed the agreement in India in March 2024. Iceland, Liechtenstein and Norway are also involved in the agreement. The four EFTA states negotiated with India for 16 years.
The Confederation has high hopes for the agreement. It will bring customs relief for 94.7 percent of current Swiss exports to India - in some cases with transitional periods. Parmelin said this in September when presenting the dispatch to parliament.
