Minister of Railways, Commerce & Industry, and Consumer Affairs, Food & Public Distribution, Shri PiyushGoyal had a meeting through video conference with Federal Councillor H.E. Mr. Guy Parmelin, Vice-President of the Swiss Federal Council and Head, Federal Department of Economic Affairs, Education, and Research.

Both the Ministers reiterated the desire to move forward on the India-EFTA Trade &Economic Partnership Agreement [TEPA] negotiations. They agreed on concrete next steps in this direction. The Ministers also discussed the India-Switzerland Bilateral Investment Treaty which is under negotiation. Shri Goyal sought support of Switzerland for the joint proposal of India and South Africa in WTO for TRIPS waiver,so as to facilitate affordable access of Covid-19 vaccines and treatments throughout the globe.

The meeting ended with exchange of courtesies and Shri Goyal wishing Federal Councillor H.E. Mr. Guy Parmelin best wishes for the Swiss Presidential election which is due to take place on 9 December 2020. He also reiterated his invitation extended to Federal Councillor H.E. Mr. Guy Parmelin to visit India.

Trade agreement negotiations advance as ministers agree steps on TEPA, discuss investment treaty and seek TRIPS waiver support. Both ministers agreed on concrete next steps to progress the India EFTA Trade & Economic Partnership Agreement (TEPA), discussed the ongoing negotiation of an India Switzerland Bilateral Investment Treaty, and India requested Swiss support for a joint World Trade Organization proposal for a TRIPS waiver to enable affordable global access to COVID 19 vaccines and treatments.