India sked to provide name of the bank and other specific details.
"Negotiations on the FTA will be commencing shortly. We believe that we will be able to conclude the EFTA trade agreement within one year," Commerce and Industry Minister Kamal Nath told reporters in New Delhi after meeting Swiss Federal Counsellor Doris Leuthard. EFTA states include Iceland, Liechtenstein, Norway and Switzerland. It is an inter-governmental organisation to promote free trade and economic integration between the four nations.
As India and Switzerland prepare to renegotiate the Double Taxation Avoidance Agreement, the Swiss government said it was confident that the pact would be finalised by next year.
The government of Switzerland will not be taking up the allegation by Novartis that Indian patent law is incompatible with the Trade-Related Aspects of Intellectual Property Rights agreement at the dispute settlement board of the WTO.
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