On Monday, January 22, 2018, Prime Minister Narendra Modi and Swiss President Alain Berset here exchanged views on ways to extend bilateral association on the sideline of the World Economic Forum (WEF)  2018 yearly summit.

PM Modi from his twitter handle informed about talks as saying

“On reaching Davos, held talks with the President of the Swiss Confederation, Mr @alain_berset. We reviewed the scope of our bilateral cooperation and discussed ways to deepen it even further,” Modi said in a tweet.

Berset said the negotiations marked the reunion of the biggest and the oldest democracies in the world.

Thanking PM Modi, the Swiss President said he would continue to strengthen “our relations” with India.

“First engagement in snowing #Davos, PM @narendramodi met with Swiss President @alain_berset. Two leaders had productive discussions on steps to further deepen our bilateral cooperation built upon our shared values of democracy and diversity. #IndiaMeansBusiness,” an External Affairs Ministry talking head touted in a tweet.

Sources said the two leaders are also considered to have talks the progress on automatic exchange of tax information. Legislation in this view was passed by the Swiss Parliament, following which banks and financial institutions have commenced collecting data for the first exchange that is to start from next year.

Negotiations on EFTA (European Free Trade Association) trade deal and the bilateral investment protection agreement was also discussed, among various business and trade matters, they added.