Norwegian Minister for Trade and Industry Jan Christian Vestre said that the European Free Trade Association (EFTA) deal with India was a “historic breakthrough”.
India signed a free trade agreement with the four-nation EFTA in the presence of Union Commerce and Industry Minister Piyush Goyal on Sunday.
“This is a historic breakthrough, the agreement we have come up with is really beneficial for India and the other countries, including Norway. We will reduce all important tariffs and customs duties. We will work together to increase investments in India,” the minister said.
“For the first time, we also agreed to add a chapter on sustainable development, which was very important for us. We really believe that business and sustainable development should go hand in hand,” he added.
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