'India, Switzerland FTA expected to be concluded by 2012-end'

NEW DELHI: The India, Switzerland Free Trade Agreement (FTA) may conclude by the end of this year, said Rolf Frei, Consul General of Switzerland for India.

This statement has come an interactive meeting on business opportunities in Switzerland, organised by the Federation of Andhra Pradesh Chamber of Commerce and Industry here. Frei said, “Both the countries were keen on having the FTA at the earliest. The agreement will give a significant boost to bilateral trade between India and Switzerland.Despite the global economic slowdown, our trade graph has been looking upwards.”

The bilateral trade touched $7 billion during the fiscal 2005-06 and $35 billion during the financial year 2009-10. India has emerged as one of the most significant investment destinations for Switzerland.

Switzerland has been among the top foreign investors in India. It bagged the eleventh position overall and sixth in Europe in regard to investments, with a cumulative FDI inflow worth $1,804.63 million from April 2000-December 2010.