Council of States approves free trade agreement with India
Keystone-SDA
The Swiss Senate is in favour of a free trade agreement between the European Free Trade Association (EFTA) and India. It was the first Swiss parliamentary chamber to approve the deal.
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The Senate reached its decision by 41 votes to 0 with three abstentions. The matter will now go to the National Council.
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In addition to Switzerland, the other EFTA member states are involved in the agreement: Iceland, Liechtenstein and Norway. Negotiations lasted around 16 years and a deal was signed in March.
India currently levies very high import duties on most goods. The agreement brings customs relief for 94.7% of current Swiss exports to the country, in some cases with transitional periods, said Swiss economics minister Guy Parmelin in September when presenting the dispatch to parliament.
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Explainer: Will the India-EFTA pact be a ‘game-changer’?
Translated from German by DeepL/mga
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