News: Indo-Swiss B2B contacts firmed up

(BL 31/03/2007) New Delhi - Indo-Swiss bilateral commercial co-operation got a big boost with high-level B2B contacts that took place at the Swiss Forum for International Business, which concluded in Zurich on Wednesday with India as the focus country.

The Union Minister of Commerce and Industry, Kamal Nath, and the Swiss Minister of Economy and Federal Councillor took part in the event which was preceded by the 10th meeting of the Swiss-India Joint Economic Commission (JEC) on March 26.

Joint study group

The JEC noted with satisfaction the positive development in the bilateral economic relationship and hailed the initiative for setting up an India-European Free Trade Association (EFTA) Joint Study Group to explore the feasibility of a broad-based trade and investment pact between India and EFTA.

Both sides resolved to step up co-operation in the realm of intellectual property rights and geographical indications by forging a formal structure through an MoU to enable dialogue between experts on both sides.

IT, tourism identified

They also appreciated the extant co-operation and progress made in the areas of organic agricultural and marine products, beside agreeing to explore the possibility of enhanced co-operation in the food processing sector covering technological as well as infrastructure aspects.

The JEC identified IT and tourism as having potential for larger bilateral economic flows and both sides agreed that the JEC would meet annually with the next meeting to be held in New Delhi in 2008, an official release said.