Parmelin: “Agreement is a competitive advantage for a few years”
Published: Monday, Mar 11th 2024, 11:30
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For Economics Minister Guy Parmelin, the EFTA free trade agreement with India means a competitive advantage for a number of years. As major economic powers are stepping up protectionist measures, it is important for small countries to diversify their markets.
"I am proud to have signed this agreement," Parmelin told the media in Bern on Monday. Negotiations between the EFTA states began almost 16 years ago. According to Parmelin, the road to the agreement was long and winding. He signed it in Delhi on Sunday.
The agreement had come about at a time when India was intensifying its free trade relations, said Parmelin. And yet the country has not yet signed a corresponding agreement with the EU, for example.
The agreement also contains chapters on sustainable development - primarily concerning labor rights and environmental protection as well as the promotion of investment. It is more than development aid, said Parmelin, it is an investment in the young population.
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