Switzerland - India Council of States approves free trade agreement with India
The Council of States is in favor of the free trade agreement between the European Free Trade Association and India. It was the first chamber to approve the corresponding federal decree on Tuesday.
03.12.2024, 09:38
SDA
The small chamber reached its decision by 41 votes to 0 with three abstentions. The matter will now go to the National Council.
In addition to Switzerland, the other member states of the European Free Trade Association (EFTA) are involved in the agreement: Iceland, Liechtenstein and Norway. Negotiations lasted around 16 years. It was signed in March.
India currently levies very high import duties on most goods. The agreement brings customs relief for 94.7 percent of current Swiss exports to the country, in some cases with transitional periods, said Economics Minister Guy Parmelin in September when presenting the dispatch to parliament. At the time, he spoke of a milestone.
