Norway plans to ratify India-EFTA trade pact next year
Norway on Sunday said that it plans to ratify the India-EFTA free trade agreement next year, the commerce and industry ministry said. India and the four-nation EFTA (European Free Trade Association) bloc inked the agreement, officially dubbed as Trade and Economic Partnership Agreement (TEPA), on March 10 this year. However, it needs ratification from the four countries for its implementation.
The agreement came up for discussions during the India-Norway Business Forum which was held in Mumbai.
May-Elin Stener, Ambassador of Norway to India, termed TEPA a landmark in bilateral relations and highlighted its potential to further enhance trade and investment between the two nations.
«She noted Norway's plans to ratify TEPA by 2025 and emphasized areas of focus, such as renewable energy, maritime industries, climate, and sustainability,» the ministry said.
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