India, Iceland review ties, status of negotiations on trade pact

India and Iceland Monday reviewed the status of ties, including trade and investments and the India-EFTA Trade and Economic Partnership Agreement (TEPA) negotiations.

India and Iceland held their third Foreign Office Consultations with the Indian side led by Sanjay Verma, Secretary (West), Ministry of External Affairs, and the Iceland side led by Martin Eyjólfsson, Permanent Secretary of State in Icelands Ministry of Foreign Affairs.

During the talks, both sides comprehensively reviewed the status of relations in all fields, including political, trade and investments, India-EFTA-TEPA negotiations, fisheries, geothermal cooperation, capacity building, cultural relations and people-to-people contacts, a Ministry of External Affairs statement said.

Detailed discussions were held on the future direction of cooperation, including in the multilateral fora, particularly the UN, it said.

EFTA is limited to four countries – Switzerland, Norway, Iceland and Liechtenstein.

The India-EFTA Trade and Economic Partnership Agreement (TEPA) negotiations started in October 2008. Several rounds of negotiations have been held so far.

The consultation on Monday provided an opportunity to exchange views on regional and international issues of mutual interest, including developments in the neighbourhoods of India and Iceland, the EU, the Ukraine conflict, the Arctic and gender issues, according to the statement.

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