Prime Minister Narendra Modi commended the recent Trade and Economic Participation Agreement (TEPA) between India and the European Free Trade Association (EFTA) as a significant achievement in international trade relations. In a letter expressing his congratulations, PM Modi highlighted the accord’s mutually beneficial nature, describing it as a “win-win situation for all nations.” The agreement, formalized with the four-nation EFTA bloc, marks a promising development despite the structural diversities among their economies.
Union Commerce Minister Piyush Goyal played a crucial role in facilitating the agreement, co-chairing the meeting on the India-EFTA trade pact. PM Modi emphasized the historic significance of the TEPA, calling it a turning point and a watershed moment in the relationship between India and the EFTA countries. He conveyed his best wishes to the negotiators and signatories involved in finalizing the innovative and well-balanced trade deal.
PM Modi praised the TEPA as one of the most pioneering free trade agreements between India and the EFTA bloc, emphasizing its focus on shared prosperity and inclusivity. He highlighted the complementarities between the diverse economies and expressed confidence in the agreement’s mutual benefits. PM Modi also underscored the significant trading and investment opportunities that the TEPA brings for India, signaling a new era of trust and ambition in bilateral relations.
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