Sunil Barthwal's Norway Visit: Boosting India-EFTA Trade Prospects

Commerce Secretary Sunil Barthwal's visit to Norway aimed to expedite the implementation of a trade deal between India and the EFTA. The agreement would enhance trade and investment opportunities, particularly for India's seafood industry, which is a significant exporter to the EU.

Commerce Secretary Sunil Barthwal recently traveled to Norway to discuss a potential fast-tracked implementation of a free trade deal between India and the European Free Trade Association (EFTA). The move is set to unlock extensive trade opportunities for Indian businesses within EFTA nations, comprising Iceland, Liechtenstein, Norway, and Switzerland.

Billed as the Trade and Economic Partnership Agreement (TEPA), this trade pact, finalized in March, still awaits a fixed implementation date. Barthwal's discussions with Tomas Norvoll, Norway's State Secretary of the Ministry of Trade, Industry and Fisheries, centered around promoting bilateral trade, advancing investment avenues, and fostering the mobility of Indian professionals.

The commerce ministry highlighted India's burgeoning seafood export industry, which has doubled its market value over the past decade. With close ties to the EU as a major market, India's seafood sector, backed by 500 EU-approved firms, leverages the export potential to further solidify its position as a key shrimp and squid supplier to Europe.

(With inputs from agencies.)