New Delhi, Oct 5 (PTI) President Droupadi Murmu on Monday said there are greater opportunities for expanding bilateral trade and investment between India and Switzerland following the implementation of the historic India-European Free Trade Association (EFTA) Trade and Economic Partnership Agreement (TEPA).
Welcoming Guy Parmelin, President of the Swiss Confederation, at the Rashtrapati Bhavan here, Murmu said India and Switzerland enjoy warm and cordial relations based on the shared values of democracy and the rule of law. The president also hosted a banquet in Parmelin’s honour.
“We have extensive cooperation across a wide range of areas, including trade and investment, science, technology and innovation, culture, and people-to-people contacts. Regular high-level exchanges between our two countries have continued to provide momentum to our bilateral relations,” the president said.
Welcoming the Swiss president to India, she said Switzerland is an important trade and investment partner for India.
Murmu noted that following the implementation of the historic India-European Free Trade Association Trade and Economic Partnership Agreement, there are even greater opportunities for expanding bilateral trade and investment.
She pointed out that Swiss companies have invested in important sectors in India and have a notable presence in the infrastructure sector here, particularly in the construction of roads, railway bridges and tunnels.
The president said they can also explore opportunities in emerging areas, such as clean and green technology and artificial intelligence (AI).
The two leaders agreed that close cooperation between India and Switzerland can bring immense benefits to the people of both countries, according to a statement issued by the president’s office.
They expressed confidence that Parmelin’s visit will contribute to further strengthening the relations between the two countries, the statement said.
Murmu was happy to note that important agreements were signed during Parmelin’s visit to promote cooperation in migration and mobility, research and technology transfer.
India and Switzerland on Monday signed a migration and mobility partnership pact, decided to expand Swiss market access for Indian exports and agreed to further deepen cooperation in nuclear energy and defence domains following talks between Prime Minister Narendra Modi and Parmelin.
Parmelin started his three-day trip to India on Monday. This is his first State visit to the country and his second visit this year, having previously attended the AI Impact Summit in February. PTI AKV RC
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