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India benefits from the textile sector
India benefits in the textile sector, says chief negotiator Markus Schlagenhof. Patent law is also an important issue for India. The investment chapter then made the agreement ‘balanced’.
Economiesuisse: “Strong signal”
Christoph Mäder from Economiesuisse explains what the agreement means for the economy. It is a “strong signal” for market opening, even a “milestone”. “The fact that Switzerland has been able to negotiate such an agreement is a great success.” India would expect high growth rates. The industry benefits from customs relief. “Given the high growth dynamics in India, Switzerland has an advantage.”
Mäder also emphasizes research and patent law. There would be “important clarifications”. India also needs the protection of its own innovations. Mäder also talks about investments in India that the country needs.
Swissmem’s Martin Hirzel is also blowing the same horn. The agreement meets the needs of the industry. The agreement creates a ‘win-win-win’ situation.
The Federal Council wants the agreement to enter into force by 2025.
Expand the national offering
The media conference now begins with federal councilor Guy Parmelin and four business representatives. “Today’s world is no longer the same as it was sixteen years ago,” Parmelin begins. For small states like Switzerland, it is crucial to open up different markets for the economy. You place a “sign for free trade”. In this way, the chains and the national offering can be organized more broadly.
After explaining the agreement in detail, Parmelin emphasized the “historical dimension” of the deal. A gap is being closed, according to the Minister of Economic Affairs. The EU does not yet have a free trade agreement with India. The new agreement could boost India’s potential. “It’s not exhausted yet.” According to the Federal Council, new jobs would be created.
Parmelin provides information about the free trade agreement
The media conference with Federal Councilor Guy Parmelin and business representatives on the Free Trade Agreement with India starts at 9:30 am. Blick reports live.
It took a long time, but now the time has come: Switzerland will have a free trade agreement with India. Switzerland – most recently led by Minister of Economic Affairs Guy Parmelin (64) – and the EFTA states Iceland, Liechtenstein and Norway have been negotiating for sixteen years.
India will remove tariffs on more than 80 percent of Swiss exports, either immediately after entry into force or over the next decade. Tariffs will be halved for another 10 percent of exports.
An important issue for Switzerland is patent protection: in the future, pharmaceutical companies can rely on India recognizing their patents and not being able to challenge them so easily.
Federal Council informed
There is criticism from aid organizations and NGOs: they fear that patent protection will mean that the poor parts of the Indian population can no longer afford important medicines.
Federal councilor Guy Parmelin and business representatives will provide information about the free trade agreement at a media conference at 9:30 am. Blick reports live in the ticker. (brother)
Source:Blick
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