Economy Minister Guy Parmelin said the agreement brought tariff relief for 94.7% of Switzerland's current exports to the country.Image: trapezoid
The Council of State supports the Free Trade Agreement between the European Free Trade Association and India. As a first-term lawmaker, he approved the related federal resolution on Tuesday.
The smaller chamber made the decision by a vote of 41 to 0, with 3 abstentions. The matter was left to the National Committee.
In addition to Switzerland, other members of the European Free Trade Association (EFTA) are also involved in the agreement: Iceland, Liechtenstein and Norway. Negotiations took about 16 years. The agreement was signed in Delhi on March 10 last year by Palmerin, his counterparts from EFTA member states and Indian Trade Minister Piyush Goyal.
Advantages of the export industry
India, the world's most populous country with growth potential due to a growing middle class, now imposes very high import duties on most goods. Introducing the news to parliament in September, Swiss Economy Minister Guy Parmelin said the agreement brought tariff reductions to 94.7% of Switzerland’s current exports to the country, with some products also having a transition period. .
At the time, Palmelin spoke of a milestone. Investment support is included in the agreement. According to the Federal Council, an EFTA member state is working on a promotional campaign for the first time. Their goal is for EFTA member states to invest $100 billion and create 1 million jobs within 15 years of the agreement entering into force.
Agricultural protection is still in place. The European Free Trade Association and India have also agreed on comprehensive and legally binding terms on trade and sustainable development. Sections of the agreement provide for no deviation from applicable environmental and labor standards. A separate subcommittee will be established for trade and sustainable development.
European Premiere
European Commission spokesperson Tiana Angelina Moser (GLP/ZH) stressed that neither the EU nor the UK had so far been able to reach such an agreement. This gives the Swiss economy a comparative advantage.
Pirmin Bischof (C/SO) particularly praised the planned investment support as a creative solution. Because Switzerland gave up its sense of security by removing industrial tariffs before the negotiations were concluded.
Pirmin Bischof particularly praised the planned investment support as a creative solution.Image: trapezoid
During the Council debate, Parmelin reiterated that the agreement brings real added value to the Swiss economy, especially in terms of legal certainty.
“very good job”
Carlo Sommaruga (SP/GE) expressed reservation. He announced that he would abstain from voting in the plenary vote. Two other abstentions were also from the Socialist Party.
Carlo Sommaruga expressed reservations.Image: trapezoid
The Geneva National Council did not question the fact that Switzerland needs a free trade agreement. However, the provisions in the sustainable development agreement with India are flawed compared to other agreements, such as the one with Moldova.
Beat Rieder (C/VS) countered that the two cases were not comparable. It is unrealistic for India to allow any imposition upon it. He spoke of the “very good job” of the Federal Council and the government. (Standard Data Authority)
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