SWITZERLAND: Union Commerce and Industry Minister Piyush Goyal engaged in crucial discussions with the Director General of the World Trade Organization (WTO) in Zurich, Switzerland, on Monday. His visit aimed to further the commitments outlined in India's newly signed free trade agreement with the European Free Trade Association (EFTA), comprising Switzerland, Norway, Iceland, and Liechtenstein.
Key Meeting with WTO Director General
Minister Goyal held a significant meeting with Ngozi Okonjo-Iweala, the Director General of the WTO. In a social media post, he shared details of their interaction, emphasizing their discussion on various ongoing negotiations at the multilateral forum and the progress made since the 13th Ministerial Conference held in Abu Dhabi earlier this year.
"Met @NOIweala, Director General @WTO in Zurich. Discussed the various ongoing negotiations at the multilateral forum and the progress achieved since the 13th Ministerial Conference held in Abu Dhabi earlier this year. Conveyed India's commitment to helping achieve meaningful outcomes and ensuring free & fair trade among member nations," said Minister Goyal.
He reiterated India’s steadfast commitment to the WTO, highlighting the importance of achieving meaningful outcomes and ensuring free and fair trade among member nations.
Advancing the India-EFTA Free Trade Agreement
Minister Goyal’s visit follows the recent signing of the India-EFTA free trade agreement. This agreement aims to bolster trade and economic relations between India and the EFTA nations. EFTA has committed to promoting investments with the goal of increasing the stock of foreign direct investments in India by USD 100 billion over the next 15 years, which is expected to generate 1 million direct jobs in India.
Productive Discussions with MSC Cargo
During his visit, Minister Goyal also met with Diego Aponte, the Group President of MSC Cargo, a leading global container shipping and logistics group with a significant presence in India. They discussed potential collaborations between MSC Cargo and the Indian industry, focusing on the growth of container shipping and the expansion of Indian flag vessels.
"Held a meeting with Mr. Diego Aponte, Group President at @MSCCargo, a renowned global container shipping & logistics group with a significant presence in India. Discussed potential collaborations with the Indian industry and the growth of container shipping & Indian flag vessels," Goyal said.
He underscored the importance of such collaborations in enhancing India's shipping and logistics sectors.
Connecting with the Indian Diaspora
Additionally, Minister Goyal took the opportunity to connect with the Indian diaspora in Switzerland. He expressed his delight in meeting prominent members of the Indian community in Zurich, acknowledging their significant contributions to the Swiss economy and their role in strengthening Indo-Swiss ties. He encouraged the diaspora to invest in India and facilitate the exchange of best practices for Swiss innovation.
Minister Goyal highlighted that the recently signed India-EFTA Trade and Economic Partnership Agreement has opened up immense possibilities for economic collaboration and growth, urging the Indian community to capitalize on these opportunities.
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