New Delhi, January 7 (IANS). Commerce and Industry Minister Piyush Goyal on Wednesday said he has spoken to Liechtenstein’s Deputy Prime Minister and Foreign Affairs Minister Sabine Monauni to strengthen ties between the two countries.
“We discussed opportunities for trade expansion, innovation and clean technology and explored ways to deepen our mutually beneficial relationship, especially after the operationalization of India-EFTA TEPA,” Goyal said in a post on social media platform ‘X’.
The Union Minister further said, “This unique partnership, in which India brings talent, huge potential and demand, and Liechtenstein contributes high-value manufacturing and specialized engineering, offers significant potential to accelerate trade, investment and technology flows.”
The India-European Free Trade Association (EFTA) Trade and Economic Partnership Agreement (TEPA) will officially come into force from October 1, covering Switzerland, Norway, Iceland and Liechtenstein.
Under the agreement, the EU has committed to invest $100 billion over a period of 15 years, which will create one million direct jobs in India.
According to an official statement issued on Tuesday, Goyal is on an official visit to Europe and will participate in two-day trade talks in Brussels to take decisive steps towards finalizing the India-EU Free Trade Agreement (FTA).
The statement said the visit reflects the growing diplomatic and technical ties between New Delhi and Brussels.
Goyal is scheduled to hold high-level talks with EU Trade and Economic Security Commissioner Maros Sefcovic. The primary objective of these talks is to provide strategic guidance to the negotiating teams, resolve outstanding issues and quickly finalize a balanced and ambitious agreement.
The leaders are expected to hold detailed discussions on key areas of the proposed agreement, aimed at narrowing differences and ensuring clarity on pending matters. The ministerial talks follow a week of intensive discussions in Brussels, building on the foundation laid during high-level discussions held earlier this week between India’s Commerce Secretary Rajesh Agarwal and European Commission Trade Director General Sabine Weyand.
–IANS
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